PVT – Fleet expansion drove earnings growth – Earnings Flash
- Strong performance of newly-acquired tankers throughout 2Q18-2Q19 helped 1H19 blended gross margin expand by 2.3% pts.
- 1H19 net profit rose 16.6% yoy to VND371bn, in line at 52.7% of our full-year forecast.
- We maintain our Add call with an unchanged TP of VND21,000.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND18,300
|
VND21,000
|
6.33%
|
ADD
|
TANKER SHIPPING
|
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