Hoa Phat’s after-tax profit plunges to six-year low

HCMC – Vietnamese conglomerate Hoa Phat Group JSC (HOSE: HPG) posted substantial net profit in the final quarter of last year but its after-tax profit in all of 2023 still dropped to a six-year low. According to its earnings report, Hoa Phat’s revenue between October and December 2023 soared by 33% year-on-year to VND34.9 trillion. Sales of steel products, including hot rolled coil (HRC), construction steel, high-quality steel, and steel billets, slipped by 7% to 6.72 million tons. Nearly 21.7 million HPG shares were traded on the southern bourse today. SHB took the lead by liquidity on the southern market, with a matching volume of over 31 million shares.