HPG [O-PF +15.5%] - Construction steel ASPs rise with government support while HPG works to diversify business lines - Update

Company Research

27 May 2016

Q1 results were impressive with better than expected sales of construction steel. Q1 2016 core NPAT (excluding real estate and animal feed) grew an impressive 68.6% Y-o-Y mainly thanks to robust sales volume growth of 38% Y-o-Y and positive signs of higher ASPs starting from the beginning of March 2016, thanks to the impact of decision No. 862/QD-BCT to impose a provisional safeguard duty on steel billet and long steel imports into Vietnam.
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