Afarak reported Q4 results on Friday. Afarak’s topline came in fairly in line with expectations due to good market conditions. However, the company’s operational profitability was still under pressure and fell short from our expectations. Due to the dispute between Afarak’s shareholders we abstain from giving a target price or a recommendation. The believe the stock price will be driven by this dispute and Afarak’s possible delisting process rather than fundamentals in the short term.