Earnings Review Aitken Spence PLC 3QFY2018
Political stability/uncertainty in the key location of Maldives continues to be an issue for the destination which is a key component of the group’s operations.
The government’s stance on thermal power the continuation will continue to be a concern for the sustainability of the energy interest of the group. Scaling up operations in other sectors such as its elevator business, property development, etc. will be a move in the positive direction to reduce reliance/concentration as well as to boost profitability.
We estimate a price of LKR 53.00 for SPEN, and therefore carry a HOLD recommendation on the counter at its current price levels
Candor Equities Limited is licensed and regulated by the Securities Exchange Commission (SEC) of Sri Lanka and is a Trading Member of the Colombo Stock Exchange (CSE). We assist both local and foreign individual and institutional investors with their listed Equity and Debt trading on the Colombo Stock Exchange.
We are a fully fledged financial services group of companies based in Colombo. The newly branded Candor came into commercial existence in May 2013 with EPIL’s acquisition of Heraymila Group Sri Lanka which was in operation since 2010. Candor’s immediate parent is the Dubai International Financial Centre (DIFC) based Eagle Proprietary Investments Limited (EPIL). Our ultimate parent is the National Industries Group (NIG), one of the largest listed companies on the Kuwait Stock Exchange. Candor’s business domain is strengthened with operating licenses comprising of Stock Broking, Asset Management, Investment Management and Corporate Financing, all vital cogs in Sri Lanka’s service sector driven macro economy.
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