Steel giant targets 30 pct growth in profits – VnExpress International


By Anh Minh  &nbspJanuary 24, 2021 | 09:00 am GMT+7
Steel giant targets 30 pct growth in profits  Steel giant targets 30 pct growth in profits - VnExpress International Se 1611332430 9162 1611332498

A man works at Hoa Sen steel mill in Vietnam. Photo by VnExpress/Phuong Dong.


Hoa Sen Group has announced it targets 30 percent growth in post-tax profits this year to VND1.5 trillion ($65.2 million).

It aims to increase revenues by 20 percent to VND33 trillion and steel production by 11 percent to 1.8 million tons.

It also plans to set up a supermarket chain, Hoa Sen Home, to sell building materials and furniture, and have 1,200 of them around the country in the next three-five years, when it targets $3 billion in revenues and VND3 trillion ($130 million) in profits.

The company’s results are seen as a bright spot in the steel industry, which is suffering from unprecedented difficulties due to the pandemic, with raw material prices becoming volatile, steelmakers facing trade disputes with export markets and the domestic market becoming intensely competitive.

According to the Vietnam Steel Association, in 2020, Hoa Sen was the leading steel sheet manufacturer with a 34 percent market share. It accounted for 17 percent of the galvanized steel pipe market, behind only the country’s biggest producer of construction steel, Hoa Phat Group.

Hoa Sen also remained the third biggest plastic pipe manufacturer.

e.VnExpress

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

Steel giant targets 30 pct growth in profits – VnExpress International

log in

Become a part of our community!

reset password

Back to
log in
error: Content is protected !!
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF