Hoa Phat reaches 413 billion VND profit after tax during the first 3 quarters

Hoa Phat Group netted 3.819 billion VND during the first 3 quarters of 2007, a growth of over 50% compared to the same period in 2006. The profit after tax for the first 9 months reached 413 billion VND. Therefore, in comparison with the projected revenues and profit after tax figure of 4.300 billion VND and 330 billion VND respectively in the early part of the year, the Group achieved 89% projected revenues; the profit after tax exceeding 25%.

Based on the achieved results, during the last quarter, the Group is expected to reach 1.200 billion VND in revenues and 100 billion VND in profit, increasing the revenue for the whole year to over 5000 billion VND, 17% higher than the projected figure and the profit after tax reaches 510 billion VND in 2007, exceeding 54.5% of the initial projected target.

The 4th quarter covers the period which includes many of Hoa Phat’s strategic products including: construction steel, furniture, refrigeration…therefore, the projection of 1.200 billion VND in revenue during the last 3 months is completely feasible. The Hoa Phat Group is in a hurry to complete the final procedures required to have their shares listed on the Ho Chi Minh  City Stock Exchange (STC) on 15th  November  2007.

Besides focusing on manufacturing and trading in the last months of the year, the Hoa Phat Group is also pushing ahead with the implementation of the new plans to generate greater revenues and profit over the coming years.

Ngọc Thủy