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FPT Corporation's profits up 23% in first four months

Update: May, 21/2015 - 09:18
FPT Corporation's F-Ville – a technology village – at Hoa Lac High Tech Park in Ha Noi. The technology sector occupied a quarter of the company's total pre-tax profit in the first four months of this year. — VNA/VNS Photo Anh Tuan
HA NOI  (VNS) —  FPT Corporation (FPT) yesterday announced that the company recorded a net profit of VND585 billion (US$27 million) in the first four months of the year, an increase of 23 per cent over last year.

The company's pre-tax profit in the first four months increased by 14 per cent to VND884 billion ($40.9 million) over last year.

The company's earnings per share (EPS) also rose by 23 per cent to reach VND1,700.

In the first four months, FPT's combined revenue rose by 30 per cent over last year to VND12.6 trillion ($587 million), 107 per cent of this year's plan.

FPT set a total revenue target of VND39.6 trillion ($1.83 billion) for the year, an increase of 13 per cent and a pre-tax profit of VND2.85 trillion ($132 million), an increase of 16 per cent over last year.

FPT said that the growth of sales in the company's technology sector and distribution-retail sector was the major factor that helped FPT achieve such high profit and revenue.

The technology sector, in the last four months, recorded VND2 trillion ($96.5 million) in revenue and VND244 billion ($11.3 million) in pre-tax profit, an increase of 43 per cent and 35 per cent, respectively.

FPT's growing overseas branches was a key factor in FPT's growth. Its overseas business doubled in revenue to VND1.3 trillion ($60 million) in the last four months.

FPT is one of Viet Nam's leading conglomerates, with affiliates active in software outsourcing, telecommunications, property, education and financial services. Its market capitalisation last year was more than VND17.6 trillion, or $838 million. — VNS

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