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HPG – 4Q19: Net profit growth recovered as expected – Update

Company Note 07/02/2020    150

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  • Robust 4Q19 topline growth propelled yoy net profit growth to 10.6% after three sluggish quarters.
  • HPG gained more market share despite weak domestic demand for construction steel in 2019, thanks to its competitive pricing strategy
  • Reiterate Add with an unchanged TP of VND29,700.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND25,200

VND29,700

1.98%

ADD

STEEL

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