Beximco Pharma has recently released third quarter results (Q3 2014)1 and it has continued to show a gradual growth in net profit with earnings per share (eps) of 3.14 Taka (Q1 to Q3 2014) which is 6.8% growth in earnings compared to 2013. The company still remains undervalued at 18.5p (mid-price close as of 7 November 2014)2. The net asset value of the company also increased to 55.85 Taka per share (46p/share, exchange rate on 8 November 2014).
I have been a long term shareholder in Beximco Pharma (TIDM: BXP), the AIM-listed manufacturer of generic pharmaceuticals in Bangladesh, which is also listed on the Dhaka and Chittagong stock exchanges.
My previous blog post at the back end of 2013 questioned whether fantasy can turn into reality with respect to picking an undervalued company to invest in based on something as simple as the price to earnings (PE) ratio (amongst other factors).
Over the last few weeks, readers of this blog will have seen me try to tie the share price to earnings via a PE ratio based fair value price range (which I have assumed to exist between a broad PE ratio range of 10 and 20).
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.