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PET - 4Q on target but minority interests take a larger share - Earnings Flash

Revenue declined 11.4% yoy to VND2,616bn, but net profit increased 7.3% yoy to VND48.8bn. Gross margin rose to 8.6% compared to 7.5% in 3Q as they began selling Samsung mobile phones in 4Q after liquidating Nokia phones in 3Q. Operating profit margin improved to 3.1% from 2.7% in 3Q. SG&A expenses increased to 5.5% from 4.7% in 3Q