Cairo – Mubasher: Beltone Research increased the fair value of Arabian Cement to EGP 12.6 per share from EGP 9.11, a research note revealed on Tuesday.
The research agency further assigned a ‘Buy’ recommendation on the stock, assuring that the fair value was reassessed due to the increase of revenues on higher prices.
The company reported a decline of 88% in net profits for the third quarter registering EGP 14.5 million, down from EGP 121.7 million a year earlier.
As for the first nine months of 2016, the company reported a decrease of 36% in net profits as it reached EGP 157.6 million compared with EGP 246.14 million for
