FPT achieves profit target early as revenues jump by almost a fifth

Wednesday, Dec 18, 2019 12:01

FPT Corporation achieved its 2019 profit target one month ahead of schedule. — Photo courtesy of FPT

FPT Corporation has achieved its full-year gross profit target one month in advance.

It reported a profit of nearly VND4.44 trillion (US$191.85 million), up 24.3 per cent year-on-year on total revenues of VND24.53 trillion ($1.05 billion), a 19.7 per cent increase.

As a key growth driver of FPT, the technology segment earned a revenue and profit before tax of VND13.8 trillion and VND1.9 trillion, up 23 per cent and 34.9 per cent, respectively.

Income from global IT services increased by 31.5 per to VND9.82 trillion.

All foreign markets saw solid growth, especially the US, its second largest market, where revenues surged 53.7 per cent to top $100 million.

The telecom sector saw revenue rise 16.7 per cent to VND9.41 trillion while profit before tax was up 16.5 per cent to VND1.63 trillion. — VNS

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