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Friday May 1, 2020 13:30 PM (GMT + 7)
Hoa Phat believes that the company’s financial management remains strict and secure.
In the first quarter 2020 consolidated financial statements, Hoa Phat Group (HPG) has net sales of VND 19.233 billion, 28.5% more than in the same period last year. Gross profit increased 43.6% to 3.76 billion dong.
However, financial expenses increased 241% to 823 billion
ng. The growth rate of profit after tax was less than gross profit, reaching 27.3% at VND 2,305 billion.
In particular, Hoa Phat’s total debt increased by VND 4,664 billion, of which VND 4,263 billion were short-term loans and VND 401 billion were long-term loans. Therefore, the group’s total bank loan as of March 31 is 41.343 billion dong, of which the short-term loan is 21.1 billion dong, the long-term loan is 20.243 billion dong. Hoa Phat’s debt / total assets ratio increased from 36% at the end of 2019 to 38.6% as of March 31, 2020.
The company’s total debt Mr. Tran Dinh Long increased significantly
Interest expense in the first quarter of this year was VND 481 billion, 2.6 times higher than the same period in 2019.
In a recent statement, Hoa Phat said its net indebtedness on March 31 was only VND 36.179 trillion, as the company had VND 5.164 trillion in time deposits with banks. The ratio of net capital loans to 3/31 is 0.72 times. Term deposits in Hoa Phat banks last week of April 2020 exceeded 6.2 billion dong.
Hoa Phat believes that the company’s financial management remains strict and secure.
Source: http: //danviet.vn/kinh-te-the-gioi/vay-hon-4600-ti-dong-quy-i-2020-tong-no-41343-ti-dong-hoa-pha …
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