Cairo - Mubasher: Pharos Research has maintained their ‘Overweight’ recommendation on Egypt Kuwait Holding (EKH) on a fair value (FV) of $1.27 per share.
The company is on track to meet Pharos’ estimates to meet Pharos’ 2018 estimates for profits of $99 million, according to a recent report.
On Sunday, EKH posted a 33% year-on-year decline in profits for the first quarter of 2018.
The company logged profits of KWD 7.09 million ($23.34 million) for Q3-18, versus KWD 10.59 million ($34.87 million) in the year-ago period, according to a filing to Boursa Kuwait.
In the first nine months of 2018, profits amounted to KWD 20.14 million, 6% lower than KWD 21.34 million in the prior-year period.
