Tuesday February 27 2024: TRG Pakistan is expected to report profit of above RS 5.0 billion in second quarter. Majority of the profit would come from significant rise in IBEX Limited share price during the quarter.
IBEX limited price increased by 23% during the quarter. Which would allow TRG Pakistan to book profit of above Rs 5.4 Billion through its indirect holding of the company.
Taking into account the latest results, IBEX’s five analysts currently expect revenues in 2024 to be US$507.3m, approximately in line with the last 12 months. Per-share earnings are expected to increase 9.2% to US$1.82. In the lead-up to this report, the analysts had been modelling revenues of US$528.3m and earnings per share (EPS) of US$1.97 in 2024. It’s pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.
Despite the cuts to forecast earnings, there was no real change to the US$19.40 price target, showing that the analysts don’t think the changes have a meaningful impact on its intrinsic value. That’s not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic IBEX analyst has a price target of US$22.00 per share, while the most pessimistic values it at US$17.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.
ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced that it has received a Gold award in the category of Top Exporter in the BPO services sector by the Pakistan Software Export Board (PSEB). ibex was also recognized for being one of the Largest Exporters for IT/IT-enabled services in Pakistan. The awards were presented at the Annual Export Awards 2024 Ceremony on February 13 in Lahore, Pakistan, by the Federal Minister for IT and Telecom, Dr. Umar Saif.
About TRG: TRG Pakistan Limited was incorporated in Pakistan as a public limited company on December 2, 2002 under the repealed Companies Ordinance, 1984. On May 14, 2003 the Company obtained a license from the Securities and Exchange Commission of Pakistan (“SECP”) to undertake venture capital investment as a Non-Banking Finance Company in accordance with the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules). The principal activity of the Company, through its associate, The Resource Group International Limited (TRGIL) is to invest in a portfolio of investments primarily in the Technology, IT enabled services and medicare insurance sectors.
