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MWG – Results in line; solid growth prospects – Update

Company Note 06/02/2020    129

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  • FY2019 results came in line with our forecast, with net profit jumping 33.2% yoy, driven by aggressive store launches and product diversification.
  • MWG’s core growth outlook remains robust in FY2020, supported by further network expansion of DMX and BHX.
  • We reiterate our Add call, with an unchanged TP of VND170,600.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND109,500

VND170,600

1.37%

ADD

RETAIL

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