Vietnam-based steelmaker Hoa Sen Group (HSG) has announced that its estimated post-tax profit increased to VND 400 billion ($17.3 million) in the fourth quarter of the 2019-20 fiscal year ended on September 30, 4.8 times higher compared to the same quarter of the previous year.
The group expects its sales revenue to reach VND 8.3 trillion in the given period, up by 31 percent year on year.
HSG is focusing on improving technology and product quality and on market expansion, as SteelOrbis understands.
The growth in all export markets in difficult conditions amid the coronavirus contributed the company’s positive outputs and profits.