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Delta Sugar: Rising Commodities and FX Boost Profitability; Upgrade FV to EGP45.00

Molasses climbs to quarterly highs; Revenue growth supported by FX rate and commodities’ prices
USD-denominated revenues & EGP-denominated COGS boost margins; FX Gains drive bottom-line
Upgrade FV to EGP45.00/share and Overweight recommendation due to upcoming possible gains by seasonality

Marina William

Equity Research Analyst @ Al Ahly Pharos Securities Brokerage

25 May 2023

Published byAl Ahly Pharos Securities Brokerage

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Delta Sugar: Rising Commodities and FX Boost Profitability; Upgrade FV to EGP45.00

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