Vietnam Steel Association stated the total sales volume of steel pipe in the first six months of this year was posted at 287,634 tonnes, in which the five largest steel producers in the market accounted for two third of market share. Asia Huu Lien Joint Stock Co (coded HLA) was the largest enterprises in Vietnam’s steel industry with 17 percent of market share, mainly in southern region. The company has been successful in exporting its products to Laos and the US.
At present, the company is carrying out a steel pipe manufacturing plant project in Long An province with total investment capital of 300 billion dong. The construction work is expected to be completed in early 2010.
According to the audited H1 business reports, HLA achieved net revenue of 1.167 trillion dong in Jan-June, an increase of 28 percent against the same period of 2008. The gross rate of profit slightly increased from 10.5 percent to 10.8 percent.
The company’s profit after tax (PAT) was posted at 39.17 billion dong, up 35 percent year-on-year, in which the profit from parent company was 38 billion dong, equal to EPS of 1,999 dong.
Based on the company’s business situation, Vincom Securities JSC predicts that the company’s profit in 2009 might reach 80 billion dong, or EPS of 4,167 dong per share.