The consolidated revenues of Hoa Phat Group, the company with a third of the construction steel market share, increased by only 3% but it managed to reverse its two-quarter losing streak with profits of VND380 billion (US$16.2 million). Steel accounted for 94% of the profit.
Vietnam Steel Corporation turned around to make a profit of VND70 billion after three quarters of losses, while Hoa Sen Group reported a profit of VND250 billion after two quarters of losses. The latter’s management had forecast profits of VND50 billion.
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