Vietnam-based steel producer Hoa Phat Group has announced its financial results for the second quarter and the first half of the current year.
In the second quarter, the company reported a net profit of VND 4.02 trillion ($173.12 million), while the company’s sales revenue totaled VND 37.71 trillion ($1.62 billion). In the first half this year, Hoa Phat’s sales revenue reached nearly VND 82.12 trillion ($3.53 billion), up by 22.7 percent year on year, while its net profit totaled VND 12.23 trillion ($525.97 million).
The company produced a total of 1.8 million mt of billets, construction steel and hot rolled coil in the second quarter. In the first six months of the year, the company produced 4.3 million mt of crude steel, increasing by eight percent year on year. In the first half this year, Hoa Phat’s sales of construction steel reached 2.38 million mt, increasing by 29 percent compared to the corresponding period last year, while its sales of hot rolled coil totaled 1.4 million mt, up by seven percent year on year.