Hoa Phat Steel Pipe Company Ltd improves ranking in Top 500 most profitable companies in Viet Nam 2020

Viet Nam Report on September 10^th announced the list of Profit 500 – Top 500 most profitable enterprises in Viet Nam in 2020. Hoa Phat Group was continued to be honoured in the Top 10 private firms in Viet Nam. Of which, Hoa Phat Steel Pipe Company Limited, a subsidiary of Hoa Phat Group jumped from 60^th to 37^th position in the Top 500 most profitable private companies and from 115^th to 83th position in the Profit 500.

By the end of second quarter of 2020, Hoa Phat Group (HPG) recorded positive business results. Its revenue in the period reached VND20.69 trillion, an increase of 35 per cent compared to the same period in 2019. In particular, after-tax profit reached VND2.75 trillion, representing 34 per cent year-on-year increase. This was also the most profitable quarter in the group’s history over the past 30 years. In the first half of the year, HPG reached VND40.01 trillion of revenue and VND5.06 trillion of after-tax profit, up 29 per cent and 31 per cent from the corresponding period last year respectively.

In comparison with the 2020 business plan approved by the shareholders' meeting at the end of June, HPG has completed 47 per cent of revenue and 56 per cent of after-tax profit. This result shows the intrinsic strength and flexibility of Hoa Phat Group in facing with difficulties caused by the COVID-19 pandemic. Hoa Phat Group achieved good results in financial indexes, showing its efficiency of capital usage and strong financial health.

Profit 500 ranking - Top 500 most profitable enterprises in Viet Nam in 2020 - aims to honour enterprises with good profitability and potential to become pillars for the development of Viet Nam's economy. The ranking also targets to introduce Vietnamese corporate brands to domestic and international business communities.

Hoa Phat Steel Pipe Company Limited was awarded Phố Hiến Cup by People’s Committee of Hung Yen Province on July 30^th for businesses with excellent achievements in production and business emulation movement and contributes positively to the socio-economic development in the province.

Profit500 list.

Hong Hanh