Research Center
Quay lại

PVS - H1 2016 earnings beat our forecast on provision reversals - Earnings Flash

Although PVS’s H1 2016 revenue and NPAT dropped 26% and 23% YoY, respectively, H1 NPAT was far better than we expected, completing 67.9% of our full year forecast, thanks mainly to one-off profit from provision reversals. We might therefore revise up our 2016 earnings forecast in our upcoming update report. However, given that our outlook for 2017 and beyond remains unchanged, we do not foresee a significant change to our target price and BUY recommendation.