A Hoa Phat worker checks the quality of construction steel. The steel firm aims to earn VND28 trillion in revenue and VND3.2 trillion in after-tax profit in 2016. — Photo VNA

HA NOI (Biz Hub) — Hoa Phat Group earned VND27.86 trillion (US$1.24 billion) in revenue and VND3.5 trillion in after-tax profit in 2015, 24 per cent and eight per cent, higher than the target, respectively.

General Director of the steel firm Tran Tuan Duong said this at the company's annual shareholders' meeting on March 31.

The group produced 1.38 million tonnes of construction steel in 2015, a year-on-year increase of 38 per cent, claiming 21.3 per cent of the market share as well as the lead in the market.

Dương said the warming of the real estate market boosted the production and consumption of construction steel last year, which rose 30 per cent and  24 per cent over that of 2014, respectively.

However, the group's livestock and livestock production business reported a loss, after tax, of VND46.2 billion.

Duong said the group's investment in this field was for the long term, so its efficiency would be seen in the next five or six years.

Hoa Phat entered the business of livestock and livestock production last year.

The group aims to earn VND28 trillion in revenue and VND3.2 trillion in after-tax profit in 2016. —VNS