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VCSC Daily - Stocks extend 2017 gains as bank rally continues - MWG, QNS, MBB, PHR

MWG prelim 5M 2017: NPAT jumped 28% YoY, should accelerate off a lower base in H2 2017. BUY. MWG released preliminary 5M 2017 results, including net revenue of VND25.9 trillion (USD1.1 billion, +60% vs 5M 2016) and NPAT of VND896 billion (USD39.5 million, +28% vs 5M 2016). These were driven by aggressive store openings for DienmayXANH, solid SSSG, contribution from stores opened in 2016 and almost doubling online sales (+98% vs 5M 2016).