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REE - 9M result in line with expectation - Earnings Flash

REE released 9M results in which revenue and NPAT increased by 4.1% YoY and 18.6% YoY, respectively, and completed 61.6% and 73.0% of our 2018 revenue and net profit forecasts. NPAT growth was driven by the power segment (+87.4% YoY) and a VND121bn (USD5.2mn) one-off gain from the disposal of a real estate project, which more than offset weak results in the Mechanical & Engineering (M&E) segment.