FPT 10-month net profit rises 19% to $114 million

Wednesday, Nov 14, 2018 18:11

By the end of October, the company had completed 84 per cent of its annual target. — Photo courtersy of FPT

FPT Corporation reported a net profit of nearly VND2.66 trillion (US$114.2 million) in the first 10 months of this year, representing a growth of 19 per cent over the same period last year.

Its 10-month revenue, however, decreased 47 per cent year-on-year to VND18.4 trillion, the company announced. Its pre-tax profit was VND3.16 trillion, up 19 per cent on-year.

The profit after tax of the parent company reached VND2.13 trillion, an increase of 23 per cent against the same period last year.

Sales in the technology and telecommunications divisions contributed 94 per cent of total revenue. The technology segment recorded revenue and pre-tax profit of VND10 trillion and VND1.2 trillion, respectively, a rise of 25 per cent in revenue and 41 per cent in profit.

The telecommunications sector posted VND7.3 trillion in revenue, up 16 per cent year-on-year, and VND1.3 trillion in pre-tax profit, up 21 per cent.

Its earnings per share (EPS) reached VND3,474, up 23 per cent, while its profit margin rose 2.3 times over the same period last year to 17.2 per cent.

In the period ending in October, the company completed 84 per cent of its target for the whole year and 76.4 per cent of its net profit target.

Foreign markets

In the last 10 months, foreign markets generated VND7.2 trillion in revenue and VND1.2 trillion in pre-tax profit for FPT Corp, up 32 per cent and 38 per cent, respectively.

The proportion of sales to foreign markets increased from 16 per cent in the first 10 months in 2017 to 39 per cent this year.

Software export accounted for the major share with revenue at VND6.7 billion and pre-tax profit at VND1.06 trillion, up 33-35 per cent year-on-year, respectively. Major markets posted growth of over 27 per cent. — VNS

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