HPG: Business result in the first 5 months 2010

Hoa Phat Group Joint Stock Company has informed of business result in the first 5 months 2010 as follows:
* Over the first 5 months 2010, sales of the company was VND4,800 billion, reaching 39% of the sales plan and after-tax profit was VND560 billion, reaching 41% of the profit plan of the whole year. Compared to the same period 2009, sales of 5-month accumulation increased 64% and 5-month profit rose 11%.
* In the situation of a sharp decrease in the construction material market, the above results showed the big efforts of Hoa Phat Group in maintaining its business activities stably. For the markets of furniture and refrigeration, products of the company were highly competitive in May. The Hoa Phat Refrigeration Engineering Company had to increase 300% of capacity to meet needs of the market. In addition, the Hoa Phat Energy JSC also had good spending management and profit. It is considered a potential important competitive advantage of Hoa Phat Group.
* The Hoa Phat Cement factory in Ha Nam has been put into operation at the beginning of the month and completed the investment for the first stage with capacity of 1 million ton per year.
* Over the time, Hoa Phat Group has implemented real estate projects, especially as construction of high-storey apartment buildings and infrastructure in industrial zone. The Hoa Mac Industrial Zone with area of 200 hectares has attracted many investors and there have been some to do procedures for building factories.
* In the coming months, Hoa Phat Group will start selling some apartments belonging to the complex project of office, trading center and high-class apartments at 257 Giai Phong. Hoa Phat Group is the investment owner of the project.

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[trathaoduocthanhbinh]

According to the result of the consolidated financial statement in September 2010, total turnover of Hoa Phat Group Joint Stock Company (HoSE: HPG) reached 1,286 billion dongs; net profit reached 106 billion dongs. Thus, the accumulated in the first 9 months reached 80% plan, equivalent to 9932 billion dongs, and after tax profit was 960 billion dongs, reaching 71% of the plan in 2010 profits.


Besides the stable growth of tradition sector of tradition sectors, real estate business of the Group has also strong growth. The lands owned by Hoa Phat are located in prime locations of Hanoi and have high liquidity. All apartments of the office and apartment Complex at 257 Giai Phong Road were sold out within a month. The Group is speeding up the implementation of projects to ensure a supply of goods to stable the market in next years.
In addition, another potential project of the Group is The Urban Area project in Pho Noi A evaluated plan 1/500 by Construction Bureau to report the Provincial People's Committee. The clearance compensation of the project will be implemented from 2011.
The projects will bring revenue and the surge profits for the Group in the coming years.
(Source: Hoa Phat Group).