Hoa Phat’s steel exports surge in 2018

Wednesday, Jan 30, 2019 15:32

Sales of construction steel, steel pipes and plated metal sheets made up 85 per cent of the revenue and post-tax profit of Hoa Phat Group in 2018. — VNA/VNS Photo Huy Hung

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 per cent annually.

Exports of steel pipes recorded a surge of nearly 70 per cent annually.

The company’s total revenue hit VND56.5 trillion (US$2.4 billion), up 21 per cent from 2017. Notably, its post-tax profit rose to an all time high of VND8.6 trillion, surpassing its target by 7 per cent.

In the fourth quarter, the corporation earned VND14.5 trillion in revenue and VND1.76 trillion in post-tax profit.

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

Construction steel accounted for 23.8 per cent of the market share and steel pipes accounted for 27.5 per cent.

Sales of interior decor, refrigeration appliances and construction equipment all maintained stable growth.

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

The corporation has also made achievements in clean and high-tech agriculture. Its agriculture revenue expanded by over 40 per cent from 2017.

Hoa Phat contributed more than VND6.3 trillion to the State budget, up 32 per cent from 2017. — VNS

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