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FPT’s profit rises 23 per cent, driven by software outsourcing

Update: April, 19/2019 - 15:40

 

The software outsourcing segment recorded revenue of more than VNĐ2.3 trillion and pre-tax profit of VNĐ329 billion by the end of March, both up more than 37 per cent year on year. — Photo courtesy of the company

HÀ NỘI — IT giant FPT Corporation reported first-quarter revenue of nearly VNĐ5.7 trillion (US$244.6 million) and before-tax profit of VNĐ960 billion ($41.2 million).

Shares of the company (FPT) rose 1.3 per cent on Thursday on the Hồ Chí Minh Stock Exchange to VNĐ48,500 ($2.08) per share following the information.

These results represented growth of 19.3 per cent in revenue and 23 per cent in profit compared to the same period of last year.

By the end of March, net profit of the whole group and profit of the parent company were VNĐ794 billion and VNĐ626 billion, respectively, up 21.6 per cent and 23 per cent.

Earnings per share (EPS) were VNĐ1,021, up 22.5 per cent year on year.

Technology remained the key contributor with revenue of nearly VNĐ3 trillion and pre-tax profit of VNĐ361 billion, up 21.7 per cent and 44.4 per cent year on year, respectively.

The software outsourcing segment recorded revenue of more than VNĐ2.3 trillion, rising 37.5 per cent over the same period of last year. Pre-tax profit of this segment was VNĐ329 billion, up 39.6 per cent.

Among the firm’s export markets, the US witnessed the strongest growth of 79 per cent, followed by Japan with 27 per cent.

The “Going Global” strategy continues to be essential to the growth of FPT. By the end of March, overseas markets brought FPT revenue of VNĐ2.5 trillion and pre-tax profit of VNĐ362 billion, both up around 35 per cent year on year.

Meanwhile, the telecommunications sector saw more modest growth of 18 per cent in revenue and 8.4 per cent in profit, at VNĐ2.4 trillion and  VNĐ368 billion respectively.  VNS

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