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MWG - Unexpected additional employee bonus and marketing expenses drag on Q3 2016 earnings - Earnings Flash

MWG posted preliminary 9M 2016 results with net revenues +76% and NPAT +64% vs 9M 2015. NPAT growth decelerated to 34% in Q3 2016 vs Q3 2015 after jumping 83% in H1 2016 vs H1 2015, because management recently approved a raise of its employee bonus for FY16 and a big marketing campaign that is being conducted for DienmayXANH from now until early 2017. Q3 2016 earnings were further affected by additional tax charged on previously non-tax deductible selling expenses.