Cairo – Mubasher: Pharos Research does not recommend entry into the stock of Maridive and Oil Services due to lack of triggers in spite of the improved financial performance, according to a note issued on Wednesday.
"Despite trading close to historical lows of USD0.25, we do not see enough triggers to recommend entry at this point", said the agency.
Maridive saw an increase in its consolidated earnings for the second quarter and first half of the fiscal year 2016, a bourse filing revealed.
In the first quarter, the company gained $5.52 million (EGP 49 million), higher 145% from $2.25 million (EGP 20 million(.
During the first six months, the company earned $9.02 million ($80 million), compared with $5.32 million (EGP 47 million) for the year-ago period.
