ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Materials

Top Vietnam steelmaker Hoa Phat posts Q4 loss on construction slump

Materials costs and weak domestic demand weigh on bottom line

Hoa Phat Group pared back steel output last fall amid a sharp drop in domestic demand. (Photo courtesy of the company)

HANOI -- Vietnam's Hoa Phat Group, Southeast Asia's top steelmaker, posted a net loss of nearly 2 trillion dong ($85 million) for the October-December period, staying in the red for a second straight quarter amid declining domestic construction and high raw materials costs.

The red ink marked a sharp reversal from the year-earlier 7.4 trillion dong profit. Revenue fell 42% to 26 trillion dong.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more