Egis Jumps Most Since 2011 on Stronger Earnings: Budapest Mover
Egis Nyrt., the Hungarian drugmaker owned by Laboratoires Servier, jumped the most in 14 months after fiscal first-quarter results beat estimates.
Egis said late yesterday its net income jumped 24 percent in the October-to-December period from a year earlier as profit from financial activities rose. First-quarter net income was 6.6 billion forint, up from 5.3 billion forint in the same period a year earlier and exceeding the median estimate of 5.3 billion forint from a Bloomberg poll of four analysts.
Egis reported “excellent” profit numbers, which may prompt investors to be overweight in the stock “at the expense” of its peer, Richter Nyrt., analysts at Budapest-based brokerage Equilor Zrt. said in an e-mailed report today.
To contact the reporter on this story: Edith Balazs in Budapest at email@example.com
To contact the editor responsible for this story: James M. Gomez at firstname.lastname@example.org