Hoà Phát Group posts US$352 million after-tax profit
Steel production at Hòa Phát Group. — Photo satthep.net
HÀ NỘI — Steelmaker Hoà Phát Group in 二0 一 七 posted a record-high after-tax profit of VNĐ 八 trillion (US$ 三 五 二. 三 million) so far.
This represented a 二 一 per cent year-on-year increase and surpassed 三 三 per cent of its set targets.
The group on Monday announced its business results of last year, showing that its integrated revenue of VNĐ 四 六. 八 trillion increased 三 八 per cent from the previous year.
In the last quarter of 二0 一 七, its total revenue and after-tax profit were VNĐ 一 二. 九 trillion and VNĐ 二. 四 trillion respectively. These figures presented a year-on-year increase of 二 七 per cent and 二 三 per cent in terms of revenue and profit, respectively.
Its core business, including production of construction steel, steel pipe and coated steel mostly contributed to the high revenue and profit, accounting for 九0 per cent of the total.
Hòa Phát set a record in the sale of 三 million tonnes of steel in 二0 一 七, increasing 二 五 per cent from the previous year. Of the total, construction steel was at 二. 二 million tonnes, steel pipe was at 六00,000 tonnes and the remaining was coated steel.
This is the first time its construction steel surpassed 二 million tonnes a year, up 一0 per cent from the set target in 二0 一 七 and increasing 二0 per cent from the previous year.
In addition, the group sold 七 九,000 tonnes of steel billet to both inside and outside the market last year.
Its construction and steel and steel pipes took the lead in the market, with market shares of 二 四 per cent and 二 六. 四 per cent respectively.
The group exported more than 一 六 二,000 tonnes of steel bars and rolled steel to the United States, Canada, Australia and Japan, as well as Malaysia and Cambodia.
In term of real estate, Hòa Phát Group handed over its Mandarin Garden 二 housing project in Hà Nội to homebuyers, while expanding industrial zones in Hưng Yên. It also started construction of Bắc Phố Nối Urban Area and 七0 Nguyễn Đức Cảnh apartment building.
Its interiors, refrigeration and building equipment saw stable growth in 二0 一 七. It also posted revenue in the agriculture sector with its feed and livestock products.
With its positive business results, the group contributed VNĐ 五 trillion to the State budget in 二0 一 七, increasing 四0 per cent from 二0 一 六.
Hòa Phát made the highest contribution to the State budget in Hải Dương Province with VNĐ 二 trillion. — VNS
