HPG [O-PF +14.2%] - Benefits to flow from scale and Government support - Update

Company Research

31 Mar 2016

Strong sales volume of construction steel will continue to drive HPG’s revenue growth. Q4 revenue exceeded our forecast by 9.3%. We expect HPG construction steel sales volume will continue to increase 25% in 2016 thanks to continued strength in the real estate market, large infrastructure projects and implicit assumptions of continued market share gains.
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