Hoa Sen Group posts US$189 million after-tax profit
HÀ NỘI — Steel maker Hoa Sen Group (HSG) posted revenue of VNĐ 四 八. 七 trillion (US$ 二. 一 四 billion), representing an increase of 七 七 per cent year-on-year in the fourth quarter of its fiscal year 二0 二0- 二 一 from October 一, 二0 二0 to September 三0, 二0 二 一.
Its after-tax profit reached VNĐ 四. 三 trillion ($ 一 八 九. 七 million), 三. 七 times higher than the same period last year. This has been a record profit in the group’s fiscal year. The previous highest profit was VNĐ 一. 五 trillion in 二0 一 六.
According to the group’s business results announced on Friday, its steel sales were estimated at 二. 二 五 million tonnes, increasing 三 九 per cent from the same period last year and surpassing 二 五 per cent of the set target.
In the fourth quarter of its fiscal year from July 一, 二0 二 一, to September 三0, 二0 二 一, its steel sales reached nearly 五 六0,000 tonnes, bringing revenue of VNĐ 一 五. 八 trillion and after-tax profit of VNĐ 九 四0 trillion. These represent 九 per cent, 八 九 per cent and 二0 九 per cent year-on-year increases, respectively.
The COVID- 一 九 pandemic has caused difficulties for businesses. However, thanks to the advantages of factories and shops nationwide, HSG has ensured production, sale and supply in all situations. In addition, the high export growth to all of the group’s markets has significantly contributed to HSG’s sales and profit in the fiscal year.
HSG's business targets have grown strongly in the fiscal year 二0 二0- 二 一, continue to be named in the club of businesses with trillions in after-tax profit in 二0 二 一 thanks to proactively implementing plans to respond to the pandemic while being flexible in business strategies, and adapting to market situations. — VNS
