4 first months Hoa Phat gains 69% of full year profits plan

27/11/2015 11:16

Following the stable development momentum of Quarter I, in April, Hoa Phat Group reached VND 648 billion revenue and VND 102 billion profits after tax. Thus, accumulated first four months of 2009, the Group gains VND 2.260 billion revenue, VND 402 billion profit after tax, reaching 36% of revenue and 69% of profits of the full year plan.

The recent consumer stimulus package and the supporting measures of the Government has remarkably taken into effect. The rapid increasing of construction civil needs and the warming up of the projects make the consumption of steel increase remarkably. The sales of Hoa Phat construction steel in April of Hoa Phat reached 32,600 tons, the highest volume since early this year, making the total sales of 4 months up to over 105.000 tons. Hoa Phat Steel Rolling Mill has operated over 100% capacity, working at peak hours to increase production capacity to over 1,000 tons/day to meet increasing needs of the market. With current favorable results, the Group’s Board of Directors plans to complete exceeding the 2009 profits plan, based on which the dividend rate in cash is expected to increase from 20% (was approved at the annual shareholders meeting) up to 30%.
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