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VJC - Core earnings up 107% as VJC goes global - Earnings Flash

VJC’s 2017 total revenue and NPAT grew 53.9% and 80.7%, respectively, vs 2016, broadly in line with our expectations. Due to the recent share price rally and no near-term fundamental upside catalysts, we will likely revise our rating to MARKET PERFORM from BUY in our next update report.