Eastern Co. raises FY2015/16 earnings target upwards by 50% to EGP1.5 billion from EGP1 billion, +17% Y-o-Y
Eastern Company expects to reach net profit (before appropriations) of EGP1.5 billion in FY2015/16 (ending June 2016) after delivering stronger-than-expected results in 1H2015/16 (+38% Y-o-Y). The new earnings target implies Y-o-Y growth of 17% (based on revised FY2014/15 earnings figure of EGP1,273 million) and is 50% higher than the previously-announced target of EGP1.0 billion. The company’s new target beats our forecast by c26%. Typically, the company’s guidance has been conservative, beating targets over the past couple of years. (Company disclosure, Hatem Alaa, Nada Amin) Eastern Company: EGP150.20 as of 09 February 2016, Rating: Buy, FV: EGP295.00 per share, MCap: USD959 million, EAST EY / EAST.CA
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.