Vietnamese Hoa Phat’s net profit grows in Q2
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Update time : 2020-07-30 16:55:06
Hoa Phat Group, a major steelmaker in Vietnam, posted its net profit of VND 2.75 trillion in the second quarter, up by 34% compared to the same period a year ago. The revenue also had a year-on-year increase of 35% to VND 20.7 trillion.
In the first half of this year, Hoa Phat’s net profit was up by 31% year on year to VND 5 trillion, and its revenue grew by 29% year on year to around VND 40.1 trillion.
The group has completed 47% and 56% of its 2020’s revenue and profit targets in the first half of this year. It has previously set a target to reach a profit of VND 8.6 trillion in 2020, a year-on-year increase of 33%, which driven by its capacity expansion and the start-up of the new Dung Quat Steel Company.
