In line with its revenue target, FPT Retail set its after-tax profit of VND377 billion (US$16.5 million), up 30% over the last year's period.
FPT Retail aims to reach revenue of VND16 trillion (US$700 million) in 2018.
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Substantially, 30% of FPT Retail's revenue in 2017 was thanks to products sponsored by consumer credit companies, such as F. Friends - a financial package for customers being employees of enterprises in cooperation with FPT Retail. At present, F. Friends have a total of 2 million users.
In 2018, FPT Retail will increase its charter capital from VND200 billion (US$8.7 million) to VND400 billion (US$17.5 million).
FPT Retail owns two retail chains: FPT Shop (selling mobile phones, laptops and accessories of many brands) and F.Studio (providing genuine Apple products and accessories).
FPT Retail accounts for 18% of the mobile phone retail market in Vietnam, second only to Mobile World (which accounts for 45%). In 2017, FPT's revenue was VND13 trillion (US$527 million), up 21% compared to 2016. Retained earnings as at December 31, 2017 was VND396 billion (US$15 million).
By the end of 2017, FPT Retail had total assets of VND3,8 trillion (US$155 million), down 18% compared to the beginning of the year. In particular, short-term assets were VND3,5 trillion (US$140 million), accounting for 91% of the total assets, mainly reflecting inventories of VND1,7 trillion (US$68 million) and cash & deposits of VND850 billion (US$34 million). Long-term assets of the company were VND360 billion (US$14 million), accounting for only 9% of the total assets.
On March 14, FPT Retail sent IPO registration to the Ho Chi Minh City Stock Exchange with 40 million shares, equivalent to a chartered capital of VND400 billion (US$16 million).
The three largest shareholders of FPT Retail include FPT Corporation with 47%, followed by Dragon Capital with 20% and VinaCapital with 15%. On the Over-the-Counter (OTC) market, FPT Retail's share price is fluctuating around VND140,000 (US$5), equivalent to a market capitalization of VND5,6 trillion (US$224 million).
