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Monday, July 16th, 2018

Elixir Securities Limited – Result Review

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by August 10, 2016 Brokerage

Karachi, August 10, 2016 (PPI-OT): EFERT – 2Q2016 EPS at PKR 0.52 (↓82% YoY)

EFERT just announced its 2Q2016 financial results wherein the company reported a PAT of PKR696mn on consolidated basis (EPS: PKR0.52, down 82%YoY), taking cumulative 1H2016 PAT to PKR2,817mn (EPS: 2.12, down 59% YoY). Quarterly result was slightly higher than Elixir Securities Limited’s estimated of PKR0.41/sh.

The company also announced an interim cash dividend of PKR2/sh in 2Q2016, 33% higher on YoY basis.

Variation in earnings primarily emanated from lower than estimated gross profits which were partially offset by lower taxation.

Elixir Securities Limited’s Jun-17 PT of PKR96/sh, offers an upside of 41% along with dividend yield of 8.5%. Maintain Buy!

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