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NLG – Weak 9M19 results just a blip – Earnings Flash

Company Note 24/10/2019    253

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  • 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%

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