QNS – 1H19: Sweet soymilk – bitter sugar – Earnings Update
- Low sugar production spoiled soymilk’s glory in 1H19. Soymilk gross margin continue to advance.
- Sugar gross profit shrank amid lower commercial cane sugar (CCS) and price drop. Sugar production decreased and disbursement of refined sugar (RE) project slowed.
- Higher administration costs and CIT rate offset better blended gross margin.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND31,400
|
VND44,300
|
1.6%
|
ADD
|
CONSUMER GOODS
|
Please follow this link for the full report
You Might Be Interested
Company Note
38
MWG plans for FY24 revenue and net profit of VND125tn/VND2.4tn, respectively, increases of 6% yoy and 14 times compared to FY23. According to management, BHX will begin to record profit in 1Q24 and targets to reach net profit of VND1tn-VND2tn…
Company Note
33
We maintain our Hold rating with 11.9% upside and a 0.0% dividend yield. We increase our TP by 11.0% while the stock price has increased 5.6% since our last report. The main drivers of our recommendation are the decline in…
Company Note
26
We maintain our ADD rating with 50.2% upside. We decrease our TP by 22.3% while the share price has increased 8.5% since our last report. The main driver of our TP change is that we apply a 40% discount rate…
VI
EN
JA
ZH
