Hoa Phat Group remains the biggest supplier of construction steel with a market share of 25 percent in the first half of 2019 (Photo: VNA)Hanoi (VNA) – Hoa Phat Group sold more than 1.34million tonnes of construction steel to the Vietnamese market in the first halfof 2019, up 22.9 percent year on year, retaining its position as the biggestsupplier with a market share of 25 percent.
At the same time, its construction steel exportsalso increased by 35 percent from the same period last year, the multi-sectorconglomerate reported.
Hoa Phat also maintained the largest steel pipemarket share, nearly 30 percent, in Vietnam as 363,200 tonnes of these productswere sold in the reviewed period, up 15.6 percent.
Those achievements contributed to the group’stotal profit of 3.86 trillion VND (nearly 166.5 million USD) in the six months,fulfilling 58 percent of the target for this year.
Hoa Phat Chairman Tran Dinh Long said the globaland Vietnamese steel industry had never faced so many difficulties like in thepast six months, when iron ore prices topped 120 USD per tonnes, almostdoubling the figure in the same period last year.
Amidst that situation, such business resultswere relatively good, he said, adding that difficulties may linger for the restof 2019 as growth in the property market is slowing down.
However, if there aren’t any big changes, thegroup believes it will achieve this year’s profit target, Long noted.-VNA
VNA
