NLG – Weak 9M19 results just a blip – Earnings Flash
- NLG’s 3Q19 net profit plunged by 65.1% yoy amid weak handover value and the lack of land transfers.
- The successful launch of the mid-range condo Akari in 3Q19has consolidated NLG’s presales outlook for FY20F.
- Maintain Add for promising FY20-21F outlook, backed by steady presales growth with a TP of VND39,600.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND28,650
|
VND39,600
|
1.83%
|
ADD
|
PROPERTY DEVT & INVT
|
Please follow this link for the full report
You Might Be Interested
Company Note
12
VRE’s 1Q22 revenue and net profit fell 39% yoy/52% yoy to VND1,369bn/ VND377bn, in line with our forecast. We expect a strong recovery in a couple of next quarters to bring VRE’s earnings to surge 95.5%/64.6% yoy over FY22F/23F, respectively.…
Company Note
10
Charm Villas project is the key driver for net profit growth during FY22-23F. We expect power segment to deliver 38.4% yoy growth in FY22F revenue with full-year operation of three renewable power plants. We reiterate our Add call with a…
Company Note
18
VHC’s 1Q22 net revenue/net profit surged 82.7%/318.3% yoy, fulfilling 29%/39% of our full-year forecasts, respectively. We expect FY22F revenue/NP to grow robustly 52.8%/77.9% yoy, riding on strong export demand and expanding gross margin. Upgrade to Add with a higher TP…