Hoa Phat Group reaches VND144 billion profit after tax in January 2008 and VND125 billion in February

In the condition of complicated changing market in which input material prices increase continuously, cruel weather influences strongly on manufactoring, Hoa Phat Group’s still developing sustainably and reachs VND 144 billion profit after tax in January 2008 and VND 125 billion in February. Thus, profit of the whole Group in early year achieves VND 269 billion, as 36% of 2008 plan.

All Hoa Phat’s fields have high growth rate, especially in Refrigerator Furniture, Steel Pipe and Constructor equipment. In Refrigeration, the capacity of air conditional and refrigeration also increased 3 times in comparison to this period in 2007. Exactly prediction of market change made Hoa Phat Steel Pipe have big competition advantage in reserving and proactiving input raw material sources for manufacture. Hoa Phat Equipments and Accessories has recently signed many contracts of supplying stone crushing machine and tower crane which overall worth was up to tens of billion dong, reaches 36% profit after tax’s plan in 2008 (VND 740 billion).

The above result shows that the profit after tax’s plan of VND 780 billion will definitely be effectuated. This is not only good news but also a welcome sign for the coming Shareholders’ meeting of Hoa Phat Group in March 31st 2008 in Ha Noi.

Ngọc Thủy