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HPG: HPG reaches VND960 billion in profit after tax in 9 months
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).
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