Hoa Sen Group sees profit and revenue increase

Thursday, Jul 22, 2021 08:03

A worker operates machines at a factory of steel maker Hoa Sen Group (HSG) in HCM City. Despite the impacts of COVID-19, Hoa Sen Group still implemented drastic measures to maintain positive earning results. — Photo hoasengroup.vn

Steel maker Hoa Sen Group (HSG) reported sales volume of 615,425 tonnes, revenue of VND13 trillion (US$564.2 million) and profit after tax of VND1.7 trillion in Q3 of the fiscal year 2020-2021, from April 1, 2020 to June 30, 2021.

These represent an increase of 56 per cent, 90 per cent, 435 per cent year-on-year, respectively.

In June alone, sales volume reached 175,763 tonnes, revenue was estimated at VND3.87 trillion, profit after tax was VND562 billion.

In the first nine months of this year, sales volume was estimated at 1.7 million tonnes, revenue reached VND32.93 trillion, profit after tax totalled VND3.37 trillion, up by 54 per cent, 72 per cent and 381 per cent, respectively over the same period last year.

With this result, HSG has fulfilled 94 per cent of the sales volume, 99.8 per cent of the revenue plan and 225 per cent profit plan of the fiscal year 2020-2021.

Amid the 4th wave of the COVID-19 pandemic, a representative of HSG said it had actively organised a system of factories and stores nationwide to follow strict regulations on pandemic prevention, carrying out RT-PCR tests for workers once a week, ensuring the company's business and production are not interrupted.

The representative also said that HSG's export volume was growing strongly in both traditional markets and newly exploited markets, especially in markets with high demand for galvanised steel such as North America, South America and Europe.

HSG had signed export contracts with customers until the end of November 2021, with an average export volume of over 120,000 tonnes per month. The system of 536 branches, retail stores across regions and 10 factories located near international ports had ensured the production and supply of goods in all conditions.

Therefore, although the domestic market was affected by the pandemic, HSG still maintained a stable sales volume, bringing in revenue of about VND4 trillion per month. — VNS

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