MSN – Update – A new era of growth
Posted: Dec 8, 2025
- In 3Q25, net profit reached VND 1,209 bn, up 72% yoy, mainly driven by strong growth from MSR, MML, WCM, while MCH recorded a slight yoy decline.
- For FY25F-27F, we forecast a 36% CAGR in net profit, driven by the robust expansion of the core consumer – retail business and the recovery of the mining segment.
- We recommend ADD with a target price of VND 109,200/share.
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