FPT announced preliminary 9M 2019 NPAT-MI of VND2.4tn (USD102mn, +30% YoY). Q3 2019 NPAT-MI growth improved slightly vs H1 2019 (32% vs 29%) as all core businesses maintained robust performances. FPT’s 9M 2019 results reinforce our positive view on the stock while we foresee no material changes to our current forecasts, pending a fuller review.