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HPG – Prelim 3Q20 results: positive surprises – Earnings Flash

Company Note 16/10/2020    160

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  • 3Q20 preliminary after-tax profit surged 110.9% yoy to VND3,785bn.
  • This was driven by 138.6% yoy growth in construction steel and billet sales volume and a 7-fold yoy rise in the after-tax profit of the agriculture business.
  • 9M20 preliminary after-tax profit came in at 90.3%/92.5% of our/consensus full-year forecasts.

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Target Price

Dividend Yield

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VND29,050

VND27,300

1.55%

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