VTP - Earnings behind our forecast due to rising expenses - Earnings Flash
  • 31 Jan 2023
  • Company Research
- VTP announced its 2022 results with revenue of VND22tn (USD921mn; +1% YoY) and NPAT-MI of VND258bn (USD11mn; -13% YoY). We attribute the gloomy top-line result to a YoY decrease in trading activity (which is mainly comprised of phone cards) that dragged