Brokerage

Karachi, February 18, 2015 (PPI-OT): AKD Securities Limited projects headline inflation for Feb’15 to clock in at 3.92%YoY (-0.28%MoM), marginally higher than 3.88%YoY observed in Jan’15. In this regard, SPI data reflects that CPI will likely remain in check on the back of (i) slumping commodity prices and their effect on heavyweight food items and ...

Karachi, February 17, 2015 (PPI-OT): DG Khan Cement (DGKC) announced 1HFY15 results today, where the company posted earnings of Rs3,394mn (EPS: Rs7.75), up 27% YoY. In 2Q alone, earnings clocked in at Rs5.10/share, a growth of 40% YoY/ 93% QoQ. Earnings are better than JS Securities Limited’s and street estimates led by lower than expected ...

Karachi, February 17, 2015 (PPI-OT): On an unconsolidated basis, DGKC has posted NPAT of PkR2.24bn (EPS: PkR5.10) in 2QFY15, registering a phenomenal growth of 40%YoY/63%QoQ. The result was higher than AKD Securities Limited’s projected 2QFY15 NPAT of PkR1.89bn (EPS: PkR4.32) with the deviation due to a lower than expected tax rate. While pre-tax growth clips ...

Karachi, February 17, 2015 (PPI-OT): MCB posted NPAT of PkR24.66bn (EPS: PkR22.15) in CY14, up by 13%YoY which is the highest pace of growth in 3yrs. AKD Securities Limited believes MCB is positioned to post similar growth in CY15F where AKD Securities Limited raises AKD Securities Limited’s earnings estimates across CY15F-CY19F by 4% on average ...

Karachi, February 17, 2015 (PPI-OT): Synopsis The much anticipated Textile Policy has recently been announced by the Ministry of Textile, after pending approval from the ECC. The policy has highlighted ambitious plans to double annual exports from current ~US$13bn to ~US$26bn over the course of five years. To accomplish targets, manufacturers will benefit from budgetary ...

Karachi, February 16, 2015 (PPI-OT): Fauji Cement (FCCL) announced 1HFY15 results today, where the company posted earnings of Rs1,668mn (diluted EPS: Rs1.21), up 33% YoY. Earnings are slightly above JS Securities Limited’s estimates on the back of better-than-expected gross margins, clocking in at 35.2%, up 152bp YoY. The company also announced an interim payout of ...

Karachi, February 16, 2015 (PPI-OT): CY14 results to remain subdued ENGRO is scheduled to announce its CY14 financial results on February 17, 2014. The company is expected to post EPS of PKR13.00 (at current number of shares), down 17% YoY. 4QCY14 EPS shall clock in at PKR4.52, up 4% YoY and 35% QoQ. Elixir Securities ...