Hoa Phat Group posts higher sales revenue in H1

Friday, 30 July 2021 11:16:35 (GMT+3)   |   Istanbul

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 9.74 trillion ($424.51 million), while the company’s sales revenue totaled VND 35.40 trillion ($1.54 billion). In the first half this year, Hoa Phat’s sales revenue reached nearly VND 66.90 trillion ($2.92 billion), up by 67 percent year on year.

In the first six months of the year, the company produced more than four million mt of crude steel, increasing by 55 percent, while its steel sales reached nearly 4.3 million mt, up by 60 percent, both year on year. In the first half this year, Hoa Phat’s sales of construction steel reached 1.8 million mt, increasing by 22 percent compared to the corresponding period last year.

In the January-June period, Hoa Phat produced 1.3 million mt of hot rolled coil and 375,000 mt of pipe, while the company’s galvanized steel output was 2.8 times higher than the same period last year, reaching approximately 160,000 mt.

According to the company’s statement, Hoa Phat will complete the legal procedures to implement the Hoa Phat Dung Quat 2 Steel Complex project from early 2022.

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