GMD released Q4 2023 results with revenue of VND1.0tn (USD42.2mn; +4% QoQ & -3% YoY) and NPAT-MI of VND115bn (USD4.7mn; -55% QoQ & -39% YoY based on core performance). Full-year 2023 profit before tax (PBT) was broadly in-line with our forecast at VND3.1t