bullish

DRC- Strong sales growth supports profit growth

199 Views15 May 2023 09:09
Broker
SUMMARY
  • Q3/2022 consolidated net revenue reached VND1,353 Bn (or USD 58 Mn, +45.6% YoY), driven by high double-digit growth of the export channel.
  • Gross margin improved by +249 bps YoY to 16.9% thanks to rising average selling prices (ASP) and higher contribution from domestic radial sales.
  • Compared to Q3/2021, DRC does not bear expenses related to Covid-19 pandemic, resulting in a lower SG&A/sales ratio, leading Q3/2022 NPAT-MI to arrive at VND77 bn (or USD3.3 Mn, +128.6% YoY).

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

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Rong Viet Securities
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