Hoa Phat Group named in Forbes’ top 50 listed companies in VN

Hoa Phat Group (HPG) has been recognized as one of Viet Nam’s 50 best listed companies for eight consecutive years in 2020 by Forbes Vietnam magazine. The group has also been voted in the top 5 best listed companies in term of revenue and top 10 in term of profit for two years in a row.

The companies honored in the list have a solid foundation with not only good business results in 2019, but also expected resilience in the context of Vietnam's economy facing the most challenges in the past 10 years due to the strong impact of the COVID-19 pandemic.

The Forbes Vietnam list this year saw new records. The total after-tax profit of top 50 companies reached VND138.7 trillion, posting 8.7 per cent year-on-year increase and the highest level so far. The ranking also recognized outstanding developments of the private sector including Hoa Phat Group.

Hoa Phat was listed in the Top 50 best listed companies for eight consecutive years (Source: Forbes Việt Nam)

In 2019, Hoa Phat achieved impressive business results with revenue of VND65 trillion and after-tax profit of more than VND7.5 trillion, surpassing 13 per cent of set targets. In 2015-19 period, the Compound annual growth rate (CAGR) reached 23 per cent.

By the end of the first quarter of 2020, Hoa Phat Group also saw relatively positive business results in the context of complicated COVID-19 changes. Its revenue reached VND19.4 trillion and after-tax of VND2.3 trillion, representing 28 per cent and 27 per cent year-on-year increases. The steel and agriculture sectors have contributed significantly to Hoa Phat’s development.

In a recent meeting with representatives of securities and fund management companies both inside and outside the country, the group’s chairman of management board Mr. Tran Đinh Long said they planned a targets of revenue of between VND85 trillion and VND95 trillion, after-tax profit of VND9 trillion and VND10 trillion.

Hong Hanh