Vietnamplus

Leading steel manufacturer Hoa Phat Group sold nearly 4.14 million tonnes of steel in the first ten months of 2020.

The production and consumption of building materials started resuming at the end of the third quarter this year as lots of construction works were speeding towards completion, however, local producers have been warned to watch the market to avoid a possible surplus.

The industrial manufacturer Hoa Phat Group posted 24.9 trillion VND in revenue in the third quarter of this year, up 62.7 percent year on year, and after-tax profit of over 3.78 trillion VND, doubling the figure recorded in the same period last year, the highest result that the firm has made in a quarter.

The implementation of many large projects after the social distancing period and disbursement of public investment for infrastructure until the end of this year are expected to support growth in construction steel consumption, according to Rong Viet Securities (VDSC).

Tai Viet JSC - Vietstock and finance and life newswire Fili.vn released a list of local listed companies with the best investor relations (IR) on September 22.

Steelmaker Hoa Phat Group posted strong growth in the first eight months of this year, raising its market share to 32 percent as of late August.

Hoa Phat Group sold nearly 500,000 tonnes of products in August, including over 320,000 tonnes of steel and 170,000 tonnes of billets despite COVID-19 pandemic.

Bilateral and multilateral economic cooperation agreements Vietnam has signed have enabled the Hoa Phat Group’s Hoa Phat Steel Sheet Co. Ltd to penetrate into many new markets and promote exports.

Leading steel manufacturer Hoa Phat Group sold 300,000 tonnes of construction steel in July, a rise of 19 percent over that in June and 27.5 percent year on year.

Hoa Phat Group (HPG), the largest steel maker in Vietnam, reported post-tax profit of over 2.75 trillion VND (120.2 million USD) in the second quarter of this year, its highest quarterly post-tax profit for 30 years, up 34 percent year-on-year.

Hoa Binh Construction Group has topped the list of Vietnam’s Top 10 Most Reputable Building Contractors in 2020, according to an independent report by Vietnam Report.

Listed steel companies reported positive business results in the first quarter of this year despite the impacts of the COVID-19 pandemic.

Hoa Phat Group, the largest steel maker in Vietnam, exported over 20,000 tonnes of construction steel in April, up 17 percent year-on-year.

Hoa Phat Group, the largest steel maker in the country, exported over 40,000 tonnes of construction steel in February, almost tripling that of the same period last year.

Hoa Phat Group exported more than 265,000 tonnes of construction steel in 2019, up 11.3 percent year on year, the multi-sectoral conglomerate reported.

Hoa Phat Group, a multi-sectoral conglomerate, reported after-tax profit at over 7.5 trillion VND in 2019, up 13 percent from its target.

Hoa Phat Group, the largest steel maker in the country, said it provided more than 2.77 million tonnes of high-quality construction steel to the market in 2019, a year-on-year surge of 16.8 percent.

The Hoa Phat Group said its subsidiary - Hoa Phat Steel Pipe Co., Ltd - exported 17,000 tonnes of steel pipe in the first 11 months of 2019, a year-on-year increase of 22.3 percent.

Hoa Phat Group’s Dung Quat project will increase steel supply, leading to change market shares of steel firms on the domestic market, according to KIS Vietnam Securities Corporation (KIS).

Vietnam’s leading steel maker – Hoa Phat Group – and Kyoei Steel Group of Japan shared the wish for long-term cooperation in steel billet and scrap steel supply.