Vietnam-based steel producer Hoa Phat Group has announced that its consolidated revenue in 2017 amounted to VND 46.8 trillion ($2.06 billion), increasing by 38 percent compared to 2016. In the given year, the company’s profit after tax rose by 21 percent year on year to VND 8 trillion ($352.28 million), constituting its the highest-ever profit after tax.
Meanwhile, in the fourth quarter of 2017, Hoa Phat Group’s consolidated revenue totaled VND 12.9 trillion ($568.05 million) and its profit after tax amounted to VND 2.4 trillion ($105.51 million), up 27 percent and 23 percent, respectively, year on year.
In 2017, the company’s finished steel output reached its highest-ever level at three million mt, up 25 percent compared to the previous year, including 2.2 million mt of construction steel, 600,000 mt of steel pipes and 200,000 mt of galvanized steel.