Research Center
Quay lại

PVT - Overly conservative - AGM Note

Management set very conservative targets with NPAT declining 57% as Dung Quat Oil Refinery will go on maintenance, ceasing operation, for 2 months. Nevertheless, we think their target is too conservative given that PVT could grow its bulk cargo and land transportation services as it starts transporting coal for thermal power plants starting Q2 2014. We think its likely PVT will surpass last year’s results.