Hoa Sen Home falls short of usual revenue contribution to parent company

Hoa Sen Home, the recently formed home improvement subsidiary of Vietnam’s Hoa Sen Group (HSG), contributed less to the overall take of its parent company in the third quarter compared to its share before its spinoff, data culled from the listed parent company’s financial report show.

HSG’s unconsolidated financial report for the third quarter shows that Hoa Sen Home’s net revenues from sales of goods and rendering of services hit 1.86 tn Vietnamese dong (VND, EUR 62 mio) in the period covering April to June 2026.

There is no comparative figure from the previous year, as Hoa Sen Home – the entity which handles the domestic sales of HSG – only became a subsidiary last January 2026 and has not yet reached its first year of operations as a standalone firm. Previously, Hoa Sen Home operated as a division of HSG.

The report also does not disclose Hoa Sen Home’s cumulative revenues for the nine…