FPT posts five-month gains

Friday, Jun 21, 2019 16:16

A visual technology produced by FPT Corporation displayed at the group's 30th anniversary in September 2018. Technology remained the driving force that boosted the group's earnings by a fifth in the first five months of 2019. — VNA/VNS Photo Trong Dat
Revenue and pre-tax profit in the first five months of the year gained 20-22 per cent year-on-year, tech group FPT has reported.

Revenue in the first five months reached VND9.96 trillion (US$428.3 million) and pre-tax profit hit VND1.72 trillion, FPT said in a filing sent to the Ho Chi Minh Stock Exchange.

The figures were equal to 103 per cent and 112 per cent of the firm’s targets for 2019.

The firm also recorded higher profit margin than last year at 17.3 per cent in the first five months, up from last year’s 17 per cent.

The technology and telecommunications divisions remained the driving force for the company’s improvement.

Revenue and pre-tax profit in the tech division were up 24 per cent and 45.3 per cent yearly to VND5.4 trillion and VND702 billion, respectively.

Meanwhile, telecommunications recorded a 17 per cent increase in revenue and 7.9 per cent growth in pre-tax profit in the five month period. The earnings were VND4 trillion and VND631 billion, respectively.

Overseas markets grow

Revenue and pre-tax profit from overseas markets reached VND4.2 trillion and VND663 billion, up 36-36.5 per cent.

Overseas earnings accounted for 42 per cent of the group’s total.

Last year, earnings from overseas markets were 37 per cent of the group’s total.

The technology business continued expanding in overseas markets as both revenue and pre-tax profit gained 38.8 per cent and 38 per cent to touch VND3.98 trillion and VND609 billion, respectively. — VNS

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