Vietnam FPT sees net profit up 16% in 8 months

Revenue from technology and telecom sectors contributed 94% to the corporation`s total revenue.

Vietnam’s leading IT service provider FPT report after-tax profit of VND1.96 trillion (US$84.53 million), up 16% year-on-year, local media reported.

In the January – August period, FPT’s revenue reached VND14 trillion (US$603.86 million), up 19% year-on-year and pre-tax profit of VND2.34 trillion (US$100.87 million), up 32% year-on-year, stated the company’s financial statement.

Foreign markets continue to be FPT’s bright spot in 2017. Photo: FSK.

In like for like comparison (FPT Retail and Synnex FPT were regarded as associates for the first eight months of 2017), the IT companys’ revenue decreased by 49% year-on-year, equal to 105% of the year-to-date target, and pre-tax profit up 17%, equal to 113% of the year’s target.

After-tax profit was VND1.96 trillion (US$84.53 million), up 16% year-on-year, while the figure attributable to parent company’s shareholders was up 19% to VND1.54 trillion (US$66.40 million).

Additionally, earnings per share (EPS) reached VND2.52 trillion (US$108.64 million), up 18% year-on-year. Pre-tax profit margin stood at 16.6%.

Revenue from technology and telecom sectors contributed 94% to the corporation’s total revenue.

Technology sector recorded revenue and pre-tax profit of VND7.57 trillion (US$326.3 million) and VND863 billion (US$37.19 million), up 21% and 31% year-on-year, respectively. In which, the software outsourcing segment posted revenue of VND5.04 trillion (US$217.3 million), up 33% year-on-year and pre-tax profit of VND773 billion (US$33.32 million), up 30% year-on-year.

Telecom sector’s revenue stood at VND5.69 trillion (US$245.31 million), up 16% year-on-year, and pre-tax profit of VND994 billion (US$42.85 million), up 19% year-on-year.

In the first eight months of 2018, FPT’s overseas markets recorded revenue of VND5.48 trillion (US$236.25 million), up 30% year-on-year and pre-tax profit of VND860 billion (US$37.07 million), up 36% year-on-year.

The overseas revenue contributed 39% to the total revenue of the company, up from 15% recorded in the same period of last year.

Recently, FPT was named in the top 10 of the list of 10 most valuable brands in Vietnam by Forbes with brand value of US$169 million.

Source: Hanoi Times & FPT Corporation