MWG - Electronics stars; grocery progressing well - Earnings Flash

Company Research

31 Jul 2018

MWG released its H1 2018 results, including net revenue of VND44.6tn (USD1.9bn, +43% YoY) and NPAT of VND1.5tn (USD67mn, +44% YoY). Stellar performance was mainly driven by DienmayXANH (consumer electronics/CE) on solid SSSG, new store openings and full-year contributions from stores opened in 2017. Meanwhile, Thegioididong (mobile phones) posted low-single-digit top-line growth as MWG continued to convert high-performing mobile stores to CE stores.
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