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VIC - H1 2017 earnings growth driven by solid deliveries - Earnings Flash

VIC released H1 results with net revenue of VND35.3 trillion (USD1.5 billion), up 47% vs H1 2016, mainly driven by continued deliveries at Central Park, Park Hill and beach villa projects. Expansion costs of all recurring businesses continued to pull down NPAT-MI growth, which still reached VND2.1 trillion (USD90 million), up 33% vs H1 2016. However, as the bottom line in H1 achieved 76% of our previous full-year forecast, we will likely revise up our forecast in the next update report.