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Impressive profits According to the business result of Vietnam Steel Corporation (VNSteel), the company exceeded its plan last year, with some main targets even posting slight growth compared to the previous year. Specifically, the company achieved a net revenue of more than VND78.17 trillion last year. Of which, the parent company got VND2.48 trillion, equal to 163.8 percent of the plan for 2020. Pre-tax profit reached VND891 billion. Total consolidated revenue hit VND30 trillion, achieving 100 percent of the plan, and pre-tax consolidated profit touched VND260 billion. This year, the company plans to produce more than 2.5 million tons of steel billets, up 6.5 percent compared to last year. Similarly, Hoa Phat Group is the leading enterprise in the construction steel segment, increasing its market share from 26.2 percent in 2019 to 32.5 percent in 2020. In the steel pipe segment, the two largest enterprises - Hoa Phat and Hoa Sen - raised their market shares from 31.5 percent to … [Read more...] about Many expectations for Vietnamese steel industry

Increased trading volume and value of banking stocks was attributed to banks’ good financial foundation and sustainable income. According to a FiinGroup report, net interest income of listed banks in the second quarter of the year dropped by 7.5 percent compared to the previous quarter as they implemented many financial support measures for customers as well as financial aid packages for those affected by the pandemic. In particular, many banks promoted non-interest activities including fees and services and other activities. As a result, net profit from service activities of listed banks increased by 9.6 percent compared to the same period last year, creating an important growth engine for banks. … [Read more...] about Banking stocks spearhead market rebound