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MSN - Results beat forecasts thanks to F&B segment - Earnings Flash + AGM Note

Q1 2018 results. MSN announced Q1 2018 results including revenue of VND8.3tn (USD364mn, -3% YoY) and NPAT-MI of VND816bn (USD36mn, +244% YoY). The top line was dragged down by a slump in animal feed revenue, which in turn was caused by continued weak pig farming activities amid depressed pig prices.