Hanoi (VNA) – Vietnam's leading industrial manufacturing group Hoa Phatrecorded the highest ever after-taxprofit in a quarter at 10.3 trillion VND (453 million USD) in the third quarterof this year, 2.7 times higher than the same period last year.

In the thirdquarter, the firm posted 56 percentyear-on-year increase in its revenue in the third quarter of this year to 38.9trillion VND.

Operating in 25 provinces and citiesacross the country, Hoa Phat Groupcontributed 8.1 trillion VND to the State budget in the first nine months of the year, 11 percent higher than theamount in 2020.

In the January-September period, the recorded a revenue of more than 105.8 trillion VND and after-taxprofit of 27.1 trillion VND, increasing by more than 60 percent and 200 percentrespectively over the same period in 2020. Its after-tax profit in the period surpassed 45 percent of the whole year’s set target.

This year, Hoa Phat aims to earn 120,000 billion VND inrevenue and after-tax profit of 18,000 billion VND. It also targets to becomethe leading brand name in refrigeration and home appliance industry in Vietnamwhile enhancing exports.

From the fourth quarter of 2021, Hoa Phat Group established the Hoa Phat Home Appliances Joint Stock Company, making a large and methodicalinvestment in the home appliance industry on the basis of its 20 years ofexperience in developing the refrigeration industry.

In addition to the rapid deployment of new factories, HoaPhat Group prioritises research and development of refrigeration products,modern design for home appliance, good quality and competitive price incomparison with imported goods, meeting international standards to furtherpromote exports.

After restructuring, Hoa Phat Group now operates in fivesectors including iron and steel (construction steel, hot rolled steel); steelproducts (including steel pipes, galvanized steel, wire rod steel, prestressedsteel); agriculture; real estate and home appliances.

With a crude steel capacity of 8 million tonnes a year, HoaPhat Group is the largest steel producer in Vietnam as well as in Southeast Asia.The group is in the top 15 steel producers with the largest capitalisation inthe world. In the past nine months of the year, Hoa Phat Group achieved crudesteel output of 6.1 million tonnes, up 50 percent over the same period lastyear.

Its sales volume of steel products reached 6.3 milliontonnes, posting 43 percent year-on-year increase. In which, construction steelwas 2.8 million tonnes, increasing 12 per cent from the corresponding periodlast year. Its hot rolled coil (HRC) reached nearly 2 million tonnes. Hoa PhatSteel Sheet company recorded 273,000 tonnes, 2.6 times higher than the sameperiod last year. The sale of steel pipe products were 498,000 tonnes, down 12percent compared to the same period last year.

Hoa Phat takes the No.1 market share in Vietnam forconstruction steel, steel pipes and Australian beef sales in Vietnam. Inaddition, Hoa Phat's clean chicken eggs are currently taking the lead the northernmarket with an output of about 800,000 eggs a day. The feed and pig farmingsectors also have certain contributions to the group’s overall results. Thegroup's real estate sector is focusing on expanding existing industrial parks,and at the same time researching and investing in a number of housing projectsand service urban areas./.