Hoa Phat among top 10 most profitable companies in Vietnam 2018

Vietnam Report Joint Stock Company and Vietnamnet newspaper on November 29^th 2018 announced the list of top 500 most profitable companies in Vietnam 2018. Hoa Phat Group this year took the 8^th position among top 10 most profitable firms in Vietnam 2018 and second position among top 10 most profitable private companies in Vietnam 2018.

The organising board awards certificate to top 500 most proitable companies in Vietnam 2018

The ranking aims to honour businesses with impressive business results, high profitability and having potental to become key pillars for the economy’s development.

Hoa Phat Group posted impressive business results in 2017 with consolidated revenue of VND46.85 trillion, representing 38 per cent year-on-year increase. Especially, its after-tax profit saw the record high in its development history to reach over VND8 trillion, surpassing 33 per cent from the set targets and increasing 21 per cent from previous year. It contributed VND5 trillion to the State budget, increasing 46 per cent from 2016.

In the first nine months of this year, Hoa Phat Group (HPG) achieved revenue of VND41.9 trillion and after-tax profit of VND6.8 trillion, posting 24 per cent and 22 per cent year-on-year increases respectively.

Hoa Phat Steel Pipe Company, a member company of Hoa Phat Group was also listed in the top 500 most profitable companies in Vietnam 2018 with the 50^th position. According to Vietnam Steel Association (VSA) in October, Hoa Phat Steel Pipe Company secured 27.25 per cent of market share, taking the leader in the domestic market. Being one of key products of the group, Hoa Phat Steel Pipe Company significantly contributed to HPG’s revenue and prodit as well as the State budget. Hoa Phat Steel Pipe Company was also honoured in the top 100 largest tax-payers of corporation income tax in Vietnam in 2017.

The organising board awards the certificate of top 500 most profitable companies in Vietnam 2018 to Mr. Nguyen Thai Son, deputy director of Hoa Phat Steel Pipe Company Limited

The ranking was built with an aim to improve businesses’ prestige and brandname as well as supporting firms in attracting resources and new business opportunities through increasing trust of partners, investors. It would also help enhance firms’ competitiveness and sustainable development in the deep international integration.

Hong Hanh