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PTB [NON RATED] - Decent growth at an attractive valuation - Company Report

Company Research

12 Dec 2018

PTB is a conglomerate with a market cap of USD137mn and three nearly-equal revenue engines - stone, wood, and automobile dealership. However, ~90% of its gross profit comes from the first two segments. We expect revenue and profit of all segments should grow at double-digit rates over the long term thanks to rising paving stone consumption, higher vehicle sales in the domestic market and the likelihood of Vietnam winning market share in the US from China.
Tags: PTB

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