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Tóm tắt:
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SBT’s has seen worse operating results. It targets to achieve revenue of VND2,096 billion and profit of VND160 billion in 2014, down 6% and 42% YoY respectively. Based on the Q1 result and the difficulties faced by the sugar industry, BVSC estimates SBT’s FY2014 revenue at only VND1,894 billion. However, net profit is likely to surpass the target and reach VND174 billion due to a possible provision reversal
BVSC rates NEUTRAL on SBT stock with a target price at VND11,800/share.
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