Hoa Phat honoured in the Top 10 most profitable firms

Vietnam Report in co-operation with VietnamNet newspaper on July 17^th 2017 announced the Top 500 most profitable companies in Viet Nam 2017, so-called Profit500. Hoa Phat Group was in the Top 10 of most profitable companies in Viet Nam.

The ranking aims to honour Vietnamese businesses with high profitability and potential to become pillars for the future development of the economy. In addition, the firms have contributions to promote Vietnamese brandname to the business community both inside and outside the country.

Hoa Phat Group posted a revenue of VND33.8 trillion (US$1.48 billion) and after-tax profit of VND6.6 trillion (US$290 million) in 2016, increasing 34 per cent and 89 per cent from the previous year. These figures surpassed 21 per cent and 106 per cent respectively of the set targets. With the positive results, Hoa Phat Group contributed VND3.4 trillion to the State budget, representing 24 per cent year-on-year rise and listed in the Top 30 largest tax payers in Viet Nam.

Hoa Phat also made records in 2016 such as maintaining its leading position in the steel sector, steel pipe, interior, the highest revenue and profit in the refrigeration sector so far while its agriculture started to have profit. All of the achievements were because Hoa Phat implemented many strategies, especially increasing scale.

Hoa Phat Group is in the Top 10 most profitable companies (Source: Profit500.vn)

Based on financial report 2016, the ranking of businesses in the list was independently reviewed based on main criteria of return of assets (ROA), return on equity (ROE), return on revenue (ROR); before-tax profit, revenue. In addition, the ranking also reviewed business prestige on media, labourer using scale as important references in evaluation of businesses’ strength and prospects.

Earlier, Hoa Phat Group was also honoured in the Top 50 most effective firms in Viet Nam 2017, Top 50 best listed companies for six consecutive years. The award ceremony of Profit500 2017 will be organised on November 23^rd 2017 at Sheraton Hotel in Ha Noi.

Nghi Tran