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ECONOMYTRADE - SERVICE

FPT reports pre-tax profit of US$47.7 million

Updated at Monday, 21 May 2018, 15:45
The Hanoitimes - Vietnam`s leading technology firm FPT reported its pre-tax profit at VND1.09 trillion (US$47.7 million) by the end of April, increasing 34% year on year, announced the firm.
In the first four months, FPT recorded revenue at VND6.52 trillion (US$285.2 million), equivalent to 106% of the accumulated target, while the said pre-tax profit is equal to 118% of the accumulated target. 
 
Illustration photo.
Illustration photo.
In compared to the same period of last year, both FPT's revenue and pre-tax profit have increased 22% and 34%, respectively (in like for like comparison, merging business results of FPT Retail and Synnex FPT). 

Substantially, the technology department reported revenue and pre-tax profit of VND3.4 trillion (US$148.7 million) and VND369 billion (US$16.14 million), up 28% and 36% respectively. 

Meanwhile, FPT's software export turnover is reported at VND2.26 trillion (US$98.87 million) in the first four months, up 27% year on year, resulting in pre-tax profit of VND336 billion (US$14.7 million), up 25% compared to the same period of last year. 

The telecommunication department recorded revenue up 15% at VND2.7 trillion (US$118 million), while its pre-tax profit of VND455 billion (US$20 million), up 12% compared to the previous year. 

FPT's foreign markets also contributed VND2.45 trillion (US$107 million) in revenue, up 25% and pre-tax profit of VND378 million (US$16.5 million), representing an increase of 33% over the last year period. 

At present, revenue from foreign markets account for 38% of the corporation's total revenue, up 22% over the last year's period. 

As at April, FPT's after-tax profit reached VND919 billion (US$40.2 million), up 21% year on year. 

FPT was ranked in Top 10 most profitable companies in Vietnam Report's Profit 500 - Top 500 Vietnamese firms with the highest profits in 2017.

In the first quarter of 2018, FPT continued to sign a software contract worth USD100 million with innogy SE (owned by RWE Group) for the forthcoming period (2018-2024) - the largest contract in FPT's history of 30 years. According to the contract, FPT will provide technological solutions based on SAP, IoT and digital transformation platforms for innogy SE.
Ngoc Thuy
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