Hoa Phat bounces back after three months of falling sales

By Anh Minh   August 10, 2021 | 10:53 am GMT+7
Hoa Phat bounces back after three months of falling sales
Hoa Phat steel products seen in a factory. Photo courtesy of Hoa Phat Group.
Hoa Phat sold 600,000 tons of finished steel products in July, which represented a strong year-on-year increase after three straight months of declines.

Vietnam’s leading steelmaker sold 363,000 tons of construction steel, up 21 percent from a year earlier and 58 percent from the previous month.

It also sold 160,000 tons of hot-rolled coils and 77,000 tons of other products.

In the year to date, Hoa Phat has sold 4.9 million tons of steel products, up 64 percent, including 2.2 million tons of construction steel and nearly 1.5 million tons of hot-rolled coils.

For the first half of the year, it reported revenues of nearly VND66.9 trillion ($2.9 billion), a year-on-year rise of 67 percent.

It tripled its net profit to VND16.7 trillion.

 
 
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