Steelmaker posts 132.37 million USD in after-tax profit

Hoa Sen Group - Hoa Binh branch (Photo: hoasengroup.vn)

Hanoi (VNA) - Giant steelmaker Hoa Sen Group posted 747 billion VND (132.37 million USD) in after-tax profits in the first four months of the 2020-2021 fiscal year, from October 1, 2020 to January 31, 2021, fulfilling 49.8 percent of its target, it revealed on February 22.

Revenue reached some 12.21 trillion VND in the period, meeting 37 percent of the plan.

Of note, it collected 3.11 billion VND in revenues and posted 175 billion VND in after-tax profit in January alone.

The Hoa Sen Group is mulling the sale of 327,100 treasury stocks, which is expected to be completed in March after approval is forthcoming from the State Securities Commission.

It has also proposed buying about 22 million of its shares and lowering its charter capital, in an effort to protect shareholder and investor interests over concerns about COVID-19’s impact on the stock market./.

VNA