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MWG [BUY +36.5%] - Sluggish September-October sales were an aberration - Update

Company Research

29 Nov 2017

We reiterate BUY on MWG with a total stock return of 36.5%. MWG released preliminary 10M 2017 results including net revenue of VND53.3 trillion (USD2.3 billion, +52% vs 10M 2016) and NPAT of VND1.8 trillion (USD79.8 million, +36% vs 10M 2016). There was a slowdown in September-October 2017 sales as store traffic during this period was dampened by severe storms and heavy rainfall, especially in the central and northern areas.
Tags: MWG

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