VHM posted H1 2019 encouraging results with net revenue of VND26.8tn (USD1.2bn, +72% YoY) and NPAT-MI of VND9.8tn (USD425mn, +22% YoY), mainly driven by stronger scheduled deliveries and margin improvement. As this earnings result is equivalent to 46% our full year NPAT-MI forecast of VND21tn (USD916mn, +47% YoY), we expect no material change in our projection.