Steelmaker posts US$132.37 million in after-tax profit

Hoa Sen Group - Hòa Bình branch. — Photo hoasengroup.vn

HCM CITY — Giant steelmaker Hoa Sen Group posted VNĐ747 billion (US$132.37 million) in after-tax profits in the first four months of the 2020-2021 fiscal year, from October 1, 2020, to January 31, 2021, fulfilling 49.8 per cent of its target, it revealed on February 22.

Revenue hit VNĐ12.21 trillion in the period, meeting 37 per cent of the plan.

Notably, it collected VNĐ3.11 billion in revenues and posted VNĐ175 billion in after-tax profit in January alone.

Hoa Sen Group is mulling the sale of 327,100 treasury stocks, which is expected to be completed in March after approval from the State Securities Commission.

It has also proposed buying about 22 million of its shares and lowering its charter capital to protect shareholder and investor interests over concerns about COVID-19’s impact on the stock market. — VNS

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