VHM – Non-rated note – 20181108
Company Note 08/11/2018 254
- 9M18 net profit surged 143% yoy on the back of robust property delivery and strong project transfer gains. Stellar launch of Vincity Ocean Park with a 70% absorption rate was proof of the continued thirst for affordable and mid-range products.
- 10M18 presales was sizable with Vincity launch but tracking below 2017 levels.
- The 9M18 bottom line registered 143% growth versus the pro-forma 9M17 results with large profits booked from key projects and stake transfer of Vinhomes Lotus
Market Price |
Target Price |
Dividend Yield |
Rating |
Sector |
VND72,700 |
N/A |
N/A |
N/A |
REAL ESTATE |
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