PVS – 3Q results dampened by one-off expenses – Update
- PVS’s 3Q19 net profit plunged 72% yoy on lower profit from associates (-92.2% yoy) and higher tax expenses.
- 9M19 net profit was below at 56.9% of our FY19F estimate due to higher than expected interest and other expenses.
- We maintain our Add call with a lower target price of VND24,100.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND18,800
|
VND24,100
|
3.72%
|
ADD
|
OIL & GAS
|
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