Al Ahly Pharos Securities Brokerage
Al Ahly Pharos Securities Brokerage

Al Ahly Pharos Securities Brokerage

Coverage: Egypt
Pharos Holdings is a 360º investment bank headquartered in Egypt. The Pharos research team is the go-to team for Egypt coverage, with more than 75 EGX-listed companies under coverage.
Location: Cairo

Analysts

Latest from Al Ahly Pharos Securities Brokerage

Egypt Equity Strategy 2023: Despite Challenges, Valuations Do Stand Out

Macro backdrop is on a bumpy road to recovery. A catch-up in equities is overdue, supported by EGP weakness. Our top picks are COMI, ADIB, HRHO, EFIH, ETEL, ORWE, CIRA, EFID, CLHO, TMGH, ORHD, EKHO, ABUK, ORAS, and ARCC.
Al Ahly Pharos Securities Brokerage Team
Team Coverage @ Al Ahly Pharos Securities Brokerage 7 December 2022

Egypt Real Estate 2023: Expected stability amid a supportive macro environment

We expect real estate to continue to be viewed as a store of value, especially in light of EGP depreciation. Valuation gaps are confirmed when comparing our Value/Sqm to (EV - Discounted Receivables)/Sqm multiples. ORHD and TMGH are our sector top pi...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 21 November 2022

Juhayna: 3Q22 – Revenues continue to rise while costs take a toll on margins

Yogurt sales drop sequentially while the rest continue to rise; Solid market shares maintained. Heightened costs taking a toll on margins; provisions pressuring bottom-line further. Commodities cool-down and removal of import restrictions to support....
Al Ahly Pharos Securities Brokerage Marina
Marina William @ Al Ahly Pharos Securities Brokerage 17 November 2022

Cairo Poultry: 3Q22 – Taxes, rising costs and stagnation in demand weigh down on margins

Stagnation in Demand Impacts Top-line; Processing Segment Main Supporter. Turbulence in the Local Commodities Market Pressures Margins; Bottom-Line Dives Down with Unfortunately-Timed Taxes. New Feed Prices to Be Maintained One Way or the Other; Resu...
Al Ahly Pharos Securities Brokerage Marina
Marina William @ Al Ahly Pharos Securities Brokerage 16 November 2022

Eastern Tobacco: 1Q22/23 – Local sales supports profitability; retirement program to linger

Local revenues continue the rise; Toll sales dive by Phillip Morris phasing out and declining demand for e-options. Early retirement program to linger for one more year, affecting margins and bottom-line. Supported by local sales; UTC to give an extr...
Al Ahly Pharos Securities Brokerage Marina
Marina William @ Al Ahly Pharos Securities Brokerage 16 November 2022

Domty: 3Q22 – Weak base supports growth numbers; profitability pressured by expenses

Steady revenue growth backed by volumes and prices. Heightened SG&A and interest expenses pressure margins and profitability. Saved by the base effect; Margins recovery on the horizon.
Al Ahly Pharos Securities Brokerage Marina
Marina William @ Al Ahly Pharos Securities Brokerage 16 November 2022