LAS [NON RATED] - Amended VAT law should support stock price - Company Report
  • 2017-10-16T00:00:00
  • Company Research
We recommend LAS for the following reasons: A VAT law amendment is likely to be approved and will give LAS an advantage over rivals thanks to a cut of COGS and improved cashflow from operating activity. The amendment will send LAS’s GPM to its pre-2015 level at 22%-23%, and EPS under the new policy could increase by 50% from current levels given stable revenue and no dilution in coming years.