Earnings Report /
Vietnam

Quang Ngai Sugar: Rising sugar price to boost FY 21 earnings

  • Positive outlook on QNS’s business results in FY 21 thanks to an expected rally in sugar price by 30% yoy

  • We estimate FY 21 revenue and NPAT at VND7,356bn (+22% yoy) and VND1,177bn (+20% yoy), respectively

  • We recommend Buy on QNS with TP of VND51,000, equivalent to an expected return of 37% with 6% cash dividend yield.

Toan Dao
Rong Viet
11 June 2021
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