Zangan Zinc Industry Co. reduced its forecasted EPS for FY2014 by 21.5% from 241 to 189 IRR. However, the company predicted 177 IRR for FY2015 and 142IRR cash dividend is suggested by the board member. It’s noteworthy to mention that the company’s realized EPS for FY2013 was 308IRR. The company predicted the sale and cost of sale to increase by 40 and 55 percent respectively compared with FY2014 performance, while the company’s operating income decreased by 16 percent. Although the company’s sale was forecasted to improve by 40% in FY2015, the gross profit decreased from 23 to 14 percent compared with FY2014 which no explanation is given for that.
Gadir Car Leasing Co. considered its forecasted EPS for FY2015, 27 % more than the year before. However, in its 3Q2015 report, the company has reduced its income from leasing operations by 50%. Although the company has a weak performance in 3 months period, any adjustment in the forecasted EPS should be postponed until 2Q2015 report.
Shomal Gharb Housing Investment Co. covered 30 % of its forecasted EPS for FY2015 in the first 6 months period. Based on the company’s unaudited 2Q2015 report, in the first half of the year ending 22 Sep 2015 the company made 239 return per share which reduced by 16 percent compared with same period last year. The company is considering reaching 806 IRR return by the end of FY2015. In 6 months period of FY2015 the company’s gross profit decreased by 7% to 47 percent.
Tehran Housing Investment Co. released its 6 months performance report for FY2015. The company had forecasted 35 IRR return per share for FY2015 (ending 22 Sep 2015) and recognized (108) IRR loss per share in the 6 months period. If the company covers the forecasted EPS in the remained 6 months, the EPS will increase by 150% compared with FY2014. The company’s gross profit in the first 6 months period of 2014 had been -83% which has increased to 57% in current year.
Inflation rate in first month of Persian year 1394 (starting 21 of Mar 2015) reached 14 percent, based on last central bank of Iran report. Additionally, the past twelve month’s inflation has reached to 14.5. Reducing the inflation rate to a single digit number in the next two years is the main goal of central bank of Iran.
TSE at Glance
IFB at Glance
Iran Fara Bourse is a regulated market for smaller industrial companies
Trading Halts & Delays
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The market is following the same trend as last week: No special news with low fluctuations. Holding shares with low P/E ratio and with suitable DPS is recommended.
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