Cairo – Mubasher: Alexandria Container and Cargo Handling Company on Thursday said it was targeting EGP 1.8 billion in profits for the fiscal year 2019/2020, a slight decline from the EGP 1.9 billion targeted in FY 2018/2019.
However, projections indicate that the container firm was likely to achieve EGP 1.7 billion this year.
As for the company’s investment strategy, Alexandria Container and Cargo Handling said it was planning to invest EGP 173.4 million in its next fiscal year as part of its efforts to renew its equipment to ensure continued high efficiency, according to a statement to the Egyptian Exchange (EGX).
In January, Pharos Research reiterated its fair value (FV) for Alexandria Container and Cargo Handling’s stock at EGP 14.5 per share, recommending an ‘Equalweight’.
Alexandria Container and Cargo Handling last reported a 15% fall in its profits for the six-month period ended December 2018 to EGP 962.4 million from EGP 1.1 billion in the same period of the previous fiscal year.
