SZC - Profits beat our forecasts on IP land sales, margins - Earnings Flash

SZC released its Q4 2021 results with revenue surging 109% YoY to VND148bn (USD6.4mn) and NPAT-MI jumping 187% YoY to VND68bn (USD2.9mn). We note that Q4 2020 was a relatively low base due to muted IP land sales.

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