10 months, HPG reached nearly VND 1,100 billion of profit after tax

By the end of 10/2010, after-tax profit of Hoa Phat Group has reached VND 1081 billion, equal to 80% of the year plan; particularly 121 billion for October. Besides, revenue of the first month of the fourth quarter also reached impressive results with VND 1325 billion. 10-month cumulative revenue of the Group was 11,257 billion, equal to 91% of the year plan.

   
Fourth quarter of every year is always a extremely exciting period of Hoa Phat. Because this is high season for many of the Group’s main products such as steel, steel pipes, furniture, refrigeration. Hoa Phat Steel Integrated Complex in Hai Duong has reached almost 100% capacities of all the factories, especially steel embryo mill and steel rolling mill. In October, steel rolling mill in the Complex released over 26,000 tons of steel, accounting for about 44% of Hoa Phat Steel. Particularly in October, the Group output reached 59,438 tons of construction steel, up 213.8% over the same period and 166.3% over the previous month. With this result, Hoa Phat Steel accounted for 12.1% market share of steel construction and maintained its position as one of three leading steel manufacturers in Vietnam.
 
Also in October, Hoa Phat has been approved by Hung Yen People's Committee the detailed planning of construction rate 1 / 500, A area, 300ha urban area of north Highway 5 - New Urban Pho Noi. Away from the center of Hanoi 25km to the Southeast, urban area north of Highway 5 located on Van Lam and My Hao district - Hung Yen. A section has urban construction area nearly 4.5 million m2 with a population of about fourty thousand people, 100% non-agricultural population, equivalent to grade IV.

Ranked as one of the satellite cities of Hanoi capital, Pho Noi Urban is a modern building infrastructure with complete engineering, public works, synchronous welfare. A subdivision includes the complex of buildings and public facilities are located the two main urban axis, convenient connect to external trunk roads is Highway 5 and 196 provincial highway. Besides, the park and sports at the two main create green space, environmental protection and urban landscape. The low level work such as villas, nursery, gardens are located in the city core boxes create space for communal activities, entertainment for the urban population.

With the large-scale, Pho Noi urban area and many other real estate will contribute an important part in revenue and profit of the Group during the period 2011 - 2020, and create a new dimension to Hoa Phat Group in the near future.

HPG