Hoa Phat exceed 25% profit target in 2014 after 9 months

As at the end of 9/2014, Hoa Phat Group (HPG) reached VND19,166 billion of revenue and 2,754 billion of net profit, respectively equal to 83% and 125% year plan. Compared to the same period last year, the Group’s revenue increased 51% and profit after tax increased by 81%.

After 9 months, Hoa Phat steel sales volume reached 686,000 tons, up 40% compared to the same period in 2013, thus Hoa Phat steel market share rose to 18.1%, continues to lead the national market share. Hoa Phat steel integrated complex contributed 43% to the Group's overall profitability growth. Besides, Hoa Phat steel pipe sales volume achieved 157,900 tons. Hoa Phat continue to look for exporting markets with more than 3,000 tons of construction steel to the partners in Australia, Laos and more than 5,000 tons of steel pipe exports to the United States and other countries. 

Hoa Phat steel integrated complex contributed 43% to the whole Group's profit growth in the third quarter

Real estate segment contributed 34% of the  3rd quarter’s profit after tax, primarily from Mandarin Garden complex. The other products of Hoa Phat such as furniture, refrigeration has also prepared to enter the most bustling season in years. 

In the last quarter of 2014, Hoa Phat boosts sales of steel, steel pipe, furniture, refrigeration, construction equipment. It is expected that the overhaul of blast furnace No. 1 at the steel integrated complex in Hai Duong will be completed by 11/2014 with the capacity from 350,000 to 380,000 tons / year.

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