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MWG - Solid performances across all chains - Earnings Flash

MWG released robust preliminary Q1 2017 results, in which revenue surged 62% while NPAT jumped 34% vs Q1 2016. These were driven by aggressive store openings, 80% online sales growth, solid same-store-sales-growth (SSSG) and full contributions from stores opened last year. NPAT margin shrank year-over-year as Q1 2016 did not bear the costs of the marketing campaign for DienmayXANH that kicked off in late Q3 2016. This, coupled with the fact that a broader portion of employee cash bonuses