Hoa Phat enjoys 27% profit growth in H1
Wednesday, August 1,2018AsemconnectVietnam - Hoa Phat has posted revenue and post-tax profit gains of nearly VND27.6 trillion (over US$1.19 billion) and over VND4.4 trillion (US$190 million) in the first half of 2018, representing rises of 30% and 27% from the same period last year, respectively.
The results mean that the group has already completed 55% of its annual profit target of VND55 trillion in revenue and VND8.05 trillion in after-tax profit this year.
In the second quarter alone, Hoa Phat’s revenue hit over VND14.4 trillion (over US$621.5 million), while its post-tax profit stood at VND2.2 trillion (US$94.9 million), a respective 34% and 43% higher than those of the corresponding period last year.
The firm produced 1.1 million tonnes of construction steel in the first six months, a slight increase from the same period last year.
Hoa Phat has still maintained its leading position in the country’s steel industry with a market share of 22.2% as its products are mostly consumed domestically.
Its high-quality wire rod steel products have continued to receive orders from both inside and outside the country. It sold a total of 116,00 tonnes of this product, including 58,000 tonnes to Australia, Japan, Malaysia, and the Philippines, accounting for more than half of its export volume.
DB Insurance (Korea) will buy 75% shares of BSH Insurance
Tan Cang Logistics & Stevedoring Joint Stock Company (TCL) target 5% growth in 2023
Tri Viet Securities (TVB) consolidates its personnel and anticipates market recovery opportunities
Moody's gives HDBank a B1 credit rating, assessing low NPLs and high operational efficiency
ABBANK (ABB) issuance shares, raising the charter capital to more than VND10,350 billion
HDBank (HDB) tobe approved to pay 15% stock dividend, increasing capital by nearly VND3,800 billion
Taseco Aviation Services (AST) expected to reach VND155 billion in 2023
ACB increased charter capital to VND38,840 billion
Yen Bai Minerals (YBM) aims to grow more than 10% in 2023
Vietnam Rubber Group (GVR): Profit expected to decrease by 10.3% to VND4,264 billion in 2023
SmartInvest Securities (AAS) received a license to issue shares with a dividend rate of 50%
Vietnam Electricity Construction (VNE) targets 2.4 times more profit after tax in 2023
In Q1/2023, Thuduc House (TDH) plans to make a profit in 2023 18 times higher than Q1/2022
Petrosetco (PET) continues to record profit in April 2023, down 12.1%, reaching VND18 billion
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...