POW – FY19 results met our expectation – Update
- POW’s net profit rose 29.6% yoy to VND2,491bn in FY19, largely in line with expectations at 95.4% of our FY19 forecast.
- We expect POW to continue to benefit from the power shortage in Vietnam. We estimate net profit to increase by 17.0% yoy in FY20F.
- We reiterate our Add call with a lower target price of VND16,700.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND10,550
|
VND16,700
|
0%
|
ADD
|
POWER
|
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