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Vietnam's Hoa Sen predicts tax profits will decrease

Vietnam's Hoa Sen predicts that after-tax profits will decrease to a 10-year low in 2023.

Vietnam's Hoa Sen predicts tax profits will decrease

Hoa Sen Group, a leading company in the field of steel sheet production and trading in Vietnam, estimated that its after-tax profit could decrease between $100 billion and $300 billion due to export difficulties, which could decrease to a record low in the last decade.

In 2023, the company's finished product sales were expected to reach 1.5 million tons from 1.4 million tons, with sales revenue of VND 34 trillion to 36 trillion.

In addition, tightened monetary policies, high interest rates and unstable exchange rates will also affect Hoa Sen's production and operation.

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