Dialog Axiata - Earnings Review Q3FY2017
Clarification on the telecom tower taxes will be an important factor affecting the profitability and the pricing of the counter going forward. On a standalone basis we expect the company to continue its cost management strategies which will allow for the margins to be maintained. Improvements in the subscriber base coupled with improved minutes of use will also complement the top line of the company and allowing for increased profitability. The uncertainty surrounding the levy though can be expected to create a drag on the sentiment of the counter. As such, we estimate a price target of LKR 12.90 for DIAL 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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