2QCY12 bottom-line disappoints Fatima Fertilizer reported 2QCY12 bottom line at PKR2.1bn (EPS: PKR1.03) against PKR438mn (EPS: PKR0.21) in 1QCY12, up 3.9xQoQ. Bottom line came in lower than our and consensus estimates. Reasons for the variance ...―
Estimates cut; Discount rate cut supports PO at PRs30 We cut our earnings estimates for Fatima Fertilizer by ~12% for 2012/13E to account for 1) decline in industry-wide fertilizer product prices, 2) higher operating expense inline with 2Q12, 3)...―
Downgrade to Underperform on rising risk profile We downgrade FFC to Underperform on deteriorating industry pricing power. We lower 2012/2013E EPS by 4%/9% and PO by 9% to PRs109 to account for 1) recent 4% cut in urea prices and 2) decline in...―
Fatima Fertilizer is expected to announce its 2QCY12E results tomorrow. We expect the company to clock in bottom line of PKR3.05bn (EPS: PKR1.53) which will take 1HCY12 PAT to PKR3.4bn (EPS: PKR1.75). Earnings are expected to improve 6x QoQ as ...―
We cut our PO for FFBL by 7% to PRs38/sh led by 7/17% cut in earnings estimates due to decline in urea and DAP prices. FFBL’s DAP inventory level has surged to ~200k tons which is close to levels seen post 2010-floods. We expect inventories to get...―
Fauji Bin Qasim (FFBL) reported record profits; sedate period ahead Fauji Bin Qasim (FFBL) announced record EPS of PRs11.53 for 2011, +67% YoY on the back of peak DAP margins. The excitement surrounding the results has seen Fauji Bin Qasim‘s...―
1HFY12 EPS expected at PKR9.52: Lucky cement is scheduled to announce its 2QFY12 financial results on January 30, 2012. We expect Lucky cement to post PAT of PKR3.0bn (EPS: PKR9.52), up 1.1x YoY during 1HFY12. 2QFY12 EPS is expected at PKR4.86, up...―
Pakistan Petroleum (PPL) posted a strong set of numbers with 1H FY12 EPS of PRs15.3/sh and DPS of PRs5, the results carried a nominal negative surprise. 21% bottom line growth is mainly driven by higher sales and other income. We maintain our full...―
We see strong 1HFY12 earnings of PRs23.6/sh – 2x YoY, expected PRs10/sh interim payout and seasonal uptick in sales as key triggers set to unfold strong stock performance for Indus Motors. Indus Motors is trading at FY12E P/E of 5.1x, P/B of...―
Makori East -01 to commence from Feb-12: Due to delays, production from Makori East -01 will likely commence from Feb-12, and revitalize the pace of volume growth which has slowed down for Pakistan Oilfields recently. Future production additions ...―
We are revising up Lucky Cement‘s earnings by 15% for FY12E and 17% for FY13E and PO by 5% on the back of strong cement prices, installation of TDF project and addition to other income from (1) power sales to HESCO and (2) revenue from ...―
Our channel checks suggest Engro has increased urea price by PKR210/bag (PKR181/bag net of sales tax) whereby increase in feed and fuel stock prices has been fully passed on. Engro‘s urea price now stands PKR1790/bag (PKR1543/bag net of ...―
Currently around a half of organizations ranging in size from SMEs to large multinationals ...
∙ One of the few things I consider when buying a frock is the print. Growing up, I ...
My first thought when I saw the topic for this weeks Photo Challenge: Curves was the ...