Hoa Phat Group Joint Stock Co (coded HPG) has recently reported its consolidated business results for the first quarter of this year with net revenue of 4.086 trillion dong, down 14 percent from the same period last year.
Meanwhile, its original costs of goods for sale decreased 6 percent. Therefore, HPG’s consolidated profit was 547 billion dong, falling 45 percent from last Q1.
Its financial revenue reached 22 billion dong, much lower than that of the same period last year. Of which, interest from savings and lending decreased from 55 billion dong to nine billion dong and interest from forex rate difference fell from 49.6 billion dong to 12.4 billion dong.
Financial costs declined 40 percent to 190 billion dong mainly thanks to the fall in loss of forex rate difference. Costs for sale also fell 14 percent on year while management costs increased slightly.
After spending on costs and taxes, the company’s consolidated after tax profit was 200 billion dong, down 64 percent on year with earnings per share (EPS) at 559 dong.