2017 revenue rose 4.9% and NPAT jumped 41% due to a 15% soda price increase, expired depreciation/impairment of VND48.9bn (USD2.2mn) and reversals of VND27.8bn (USD1.2mn). We expect 2018 revenue and NPAT to grow 1.9% and slip -4.1%, respectively, mainly due to capacity constraints which should be relieved by a new factory coming online in Q2 2019.