Hoa Phat’s revenue up 67 percent in H1

Illustrative image (Photo: VNA)

Hanoi (VNA) – Hoa Phat Group has reported that its revenue hit nearly 66.9 trillion VND (2.9 billion USD) in the first half of this year, up 67 percent annually.

In the second quarter alone, its revenue reached 35.4 trillion VND, up 71 percent year-on-year while before-tax profit rose 3.5 fold to over 9.7 trillion VND.

During six months of this year, the group manufactured over 4 million tonnes of crude steel, up 55 percent yearly. Nearly 4.3 million tonnes of steel products were sold, marking an annual rise of over 60 percent. Construction steel sales hit 1.8 million tonnes, up 22 percent, making the group gain the biggest market share of 34.6 percent.

It also produced 1.3 million tonnes of hot rolled steel sheets, 375,000 tonnes of steel pipes and around 160,000 tonnes of galvanised steel.

Despite hike in input material prices, Hoa Phat still maintained its production to meet domestic demand and sold products at prices lower than those in the world.

Its agriculture and real estate development also maintained growth, with Australian beef still gaining the top market share and chicken egg output the highest in the north.

In the near future, Hoa Phat will continue stepping up production of container shells on schedule and complete legal procedures to embark on the Hoa Phat Dung Quat 2 iron and steel complex in early 2022./.