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HPG - Another record-breaking year - Earnings Flash

HPG announced robust 2017 results with revenue and NPAT-MI coming in at VND46.8 trillion (USD2.1 billion, +38%) and VND8.0 trillion (USD352.4 million, +21%). This NPAT-MI result has exceeded our full-year forecast by 8% and the company's 2017 guidance by 33%, hence, we will likely raise our 2018 forecast for HPG in the next update report.