Give us your feedback

SMC – AGM Note – 20180502

Company Note 02/05/2018    129

Share

  • At its 2018 AGM, SMC Trading – Investment JSC (SMC) raised its net profit target from VND200bn to VND250bn based on its new strategic focus on making flat steel products which should enable it to expand margins. Although SMC’s current valuation appears to be cheap (2018 forward P/E of 4.7x based on the company’s earnings guidance), the company needs time to improve its profitability in the face of stiff competition in the downstream segment of the flat steel market.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND27,000

N/A

3.7%

NON-RATED

BASIC MATERIALS

 

Please follow this link for the full report

DMCA.com Protection Status