STK – Product mix improvement partially comforted the trade war pain – Update
- Subdued 9M19 topline due to prolonged trade war pain. 9M19 results came in below our forecast.
- 9M19 gross profit margin improved on the back of changing product mix. STK is now running at 94% of its 63,000-ton-per-year capacity.
- According to Management, the yarn price probably continues its downtrend towards year-end.
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Market Price
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Target Price
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Dividend Yield
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Rating
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Sector
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VND19,150
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VND25,200
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7.8%
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ADD
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TEXTILES
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