Tuesday, February 27, 2024:
TRG Pakistan is poised to report a profit exceeding RS 5.0 billion in the second quarter, primarily attributed to a substantial surge in IBEX Limited’s share price during the period. With IBEX Limited’s price climbing by 23% throughout the quarter, TRG Pakistan stands to secure profits exceeding Rs 5.4 billion through its indirect holding of the company.
Analyzing the latest results, IBEX’s five analysts project revenues for 2024 to reach US$507.3 million, remaining relatively consistent with the past 12 months. Per-share earnings are forecasted to rise by 9.2% to US$1.82. However, leading up to this report, analysts had initially estimated revenues of US$528.3 million and earnings per share (EPS) of US$1.97 for 2024.
The recent results have unveiled a wave of pessimism, resulting in a downward revision of revenue expectations and a slight decrease in earnings per share estimates. Despite this adjustment, TRG Pakistan remains optimistic about its financial performance, driven by the success of its holdings, particularly in IBEX Limited.
Stay tuned for TRG Pakistan’s official announcement, showcasing another successful quarter amidst evolving market conditions.