Hoa Phat’s steel export surges in 2018

 

Hanoi (VNA) – Hoa Phat Corporation announced on January 29 that its steel products are now available in 14 countries with a total export volume of nearly 240,000 tonnes in 2018, up 50.97 percent annually.

Steel pipes recorded a surge of nearly 70 percent annually.

Its total revenue hit 56.5 trillion VND (2.4 billion USD), up 21 percent from 2017. Notably, its post-tax profit rose to an all time high of 8.6 trillion VND, surpassing its target by 7 percent year-on-year.

In the fourth quarter, the corporation earned about 14.5 trillion VND in revenue and 1.76 trillion VND in post-tax profit.

Construction steel, steel pipes, and plated metal sheets made up 85 percent of its revenue and post-tax profit. Hoa Phat sold a record of more than 3.16 million tonnes of steel, up 5.3 percent from 2017, including 2.37 million tonnes of construction steel and 654,000 tonnes of steel pipe.

Construction steel accounted for 23.8 percent of the market share, and steel pipes, 27.5 percent.

Interior decor, refrigeration appliances, and construction equipment all maintained stable growth.

In real estate, Hoa Phat handed over a majority of the apartments in Mandarin Garden 2 and 70 Nguyen Duc Canh projects since the end of last year, and actively started a project on Pho Noi urban area in the northern province of Hung Yen.

As regards to agriculture, the corporation has reaped achievements in clean and high-tech agriculture. Its revenue expanded by over 40 percent from 2017.

With such positive results, Hoa Phat contributed more than 6.3 trillion VND to the State budget, up 32 percent from 2017. –VNA