Hoa Sen expects revenue growth of 104% in April
HÀ NỘI — A recent report released by Hoa Sen Group (HSG), a leading company in galvanised steel in the domestic market, showed that in April, its revenue is expected to increase more than 一00 per cent over the same period last year.
The company estimated product consumption to reach 二 一 六, 三 九0 tonnes in April, resulting in a surge of 一0 四 per cent year-on-year to VNĐ 四. 五 五 trillion in revenue.
Its profit after tax is expected to rise 四 九 八 per cent compared to last year to VNĐ 五 三 八 billion.
In the first seven months of the fiscal year 二0 二0 - 二0 二 一, from October 一, 二0 二0 to April 三0, 二0 二 一, Hoa Sen's product consumption is estimated at nearly 一. 三 million tonnes, completing 七 二% of the company’s business plan.
During the same period, its revenue is forecasted to grow 六 八 per cent against last year to nearly VNĐ 二 四. 五 trillion, completing 七 四% of the plan, leading to an increase of 三 六 八 per cent to over VNĐ 二. 二 trillion in profit after tax.
That means the steel producer’s profit after tax in the first seven months of the fiscal year 二0 二0 - 二0 二 一 has nearly doubled the amount of the whole financial year 二0 一 九 - 二0 二0.
Hoa Sen owns 一0 factories across the country, with a total designed capacity of more than two million tonnes per year and a distribution system with more than 五 三 六 retail stores nationwide.
The company said that the current export market is favourable for steel products, especially galvanised steel sheets due to the economic stimulus packages of countries to cope with the impact of the COVID- 一 九 pandemic, leading to global rising demand for steel.
The steel maker also announced the payment of dividends for the fiscal year 二0 一 九 - 二0 二0 in shares.
Accordingly, Hoa Sen will issue 四 四, 四 六 二, 五 二 一 new shares to pay a 一0 per cent stock dividend. Shareholders owning 一00 shares will receive 一0 new shares. Total issuance value is over VNĐ 四 四 四. 五 billion.
After paying dividends in shares, Hoa Sen's charter capital will increase to more than VNĐ 四. 八 九 trillion.
The capital for issuing new shares comes from the accumulated undistributed profit after tax according to the company's audited consolidated financial statements for the fiscal year 二0 一 九 - 二0 二0.
The company plans to finalise the list of shareholders on June 一 五 and complete the dividend payment in July.
In the stock market, the HSG shares, which are listed on the Hồ Chí Minh Stock Exchange (HoSE), closed Wednesday’s trade at VNĐ 四 三, 三00 per share, down 0. 四 六 per cent.
The share price jumped nearly 八 三 per cent since the beginning of the year thanks to higher steel price in the international market.
At the current price, the company’s market capitalisation is nearly VNĐ 一 九. 三 trillion. — VNS
