MWG – Brief – [HOLD] – BHX would open 50 – 100 stores in 2H24F

In 2Q24, MWG reported a net revenue of VND34,134bn (+15.8% yoy; 102% of our forecast), while NPAT increased to VND1,173bn (+66x yoy; 113% of our forecast). In 2Q24, BHX posted a PBT of VND7bn – the first time after years of making losses.