Report
Mohammad Kamal
EUR 7.40 For Business Accounts Only

Extra Q4 16A results: Positive first read: Inventory issues appear to be resolved, as gross margins recover 150bps y/y, producing a 2.5x y/y growth in operating income

​ Positive first read: Inventory issues appear to be resolved, as gross margins recover 150bps y/y, producing a 2.5x y/y growth in operating income

·Q4 16A’s mega-sale event drives high single digit y/y growth, mostly on volumes

·Margins recovered c.150bps y/y, as inventory issues are dealt with

·Extra closes the year having reversed the losses of previous periods, thanks to a strong Q4

Provider
Arqaam Capital
Arqaam Capital

Established in 2007, Arqaam Capital is a specialist emerging markets investment bank, bringing regional and international product offerings to the emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which we operate. Our primary role is to provide financial intermediation and create investment opportunities for frontier and emerging markets investors looking to invest in their own markets and abroad, as well as international investors seeking opportunities in target frontier and emerging markets. Arqaam Capital is headquartered in the Dubai International Financial Centre (DIFC), with additional offices in Libya, Lebanon, Egypt, and South Africa. 

Arqaam Capital's research platform provides the largest coverage footprint of MENA equities and one of the largest on the African continent with a total of 300 stocks under coverage. Arqaam Capital is ranked as one of the leading research providers in the region - a reflection of its broad coverage universe, its in-depth and high quality research, as well the compelling investment ideas that the team generates. The analysts closely analyze their sectors and issue in-depth company and sector research while the strategy team connects the micro with the macro, focusing on index analysis, macroeconomics and strategy research. 

Analysts
Mohammad Kamal

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