HT1 - Slim outsourcing margins and accounting adjustments dampen FY16 growth - Earnings Flash
HT1 released full year 2016 results with EPS growth trailed our expectation. Top line growth maintained subtle at 8.3% but margins were hit by Ha Long outsourcing activity. Adjustments made by the State Audit on FY15’s FS resulted in muted FY16 growth. Downwardly revision of FY17 forecasts and rating are possible.