Steel giant reports 27% revenue growth
Steel giant reports 27% revenue growth
Giant steel maker Hoa Sen Group has reported a 27 per cent jump in revenue in 2013-14.
At its annual shareholders' meeting in HCM City on yesterday, the company reported revenues of VND15 trillion (US$714 million) and after-tax profit of VND410 billion ($19.5 million).
Though the profit figure was just 71 per cent of the previous year's, HSG chairman Le Phuoc Vu called it a "very successful" result because the company had faced many difficulties like falling steel prices, devaluation of some importers' currencies, fake steel products, and anti-dumping issues.
In 2014-15 – which started on October 1 — HSG is targeting the domestic market by strengthening its distribution system, opening 50 more branches across the country.
It targets net profit of VND450 billion on sales of VND16.5 trillion.
