FPT records large deals with scale of $5 million-plus

Software developers exchange ideas at the FPT's office in Ha Noi. — Photo courtesy of FPT

In the first half of this year, FPT corporation recorded revenue of VND19.82 trillion (US$862 million), bringing a profit before tax of VND3.637 billion ($158 million).

It is reported that the corporation’s business results maintained double-digit growth, with the main driving force coming from increasing demand in the technology segment, especially digital transformation services and change in the profit margin of the telecommunications segment.

The technology sector (Domestic IT services and Global IT services) has continued playing a key role, contributing 57 per cent of revenue and 45 per cent of the pre-tax profit of FPT Corporation.

Global IT Service revenue reached VND8.622 trillion, surging 29 per cent, while profit before tax reached VND1.36 trillion, up 28.4 per cent over the same period last year. Notably, revenue grew in all markets, especially in the US (up 48.4 per cent) and Asia - Pacific (up 55.5 per cent).

The Japanese market witnessed a rapid recovery, with the JPY-based revenue growth reaching 18 per cent. Digital transformation revenue reached VND3.484 trillion, an increase of 64.6 per cent over the same period, reflecting the constantly increasing demand in the market, affirming the ability to provide effective and comprehensive digital transformation services of the company.

Global IT Services recorded newly-signed revenue of VND11.6 trillion, up 40 per cent over the same period, creating a solid growth momentum for the second half of 2022. FPT also recorded 13 projects with a scale of over $5 million.

The domestic IT services segment achieved revenue and pre-tax profit of VND2.63 trillion and VND263 billion, respectively. Of which, products of the Made-by-FPT ecosystem brought in VND406 billion in revenue, up 51.6 per cent over the same period.

The made-by-FPT technology ecosystem is developed on core technology platforms including AI, Blockchain, Cloud, IoT and Lowcode, and has broad applicability in many vital fields such as e-government, transportation, healthcare, finance and banking, telecommunications, education and manufacturing. This is one of the important growth drivers for FPT in the long term.

The strong demand for education in the IT industry has also contributed to boosting FPT's Education revenue by 42 per cent in the first half of this year, compared to the same period last year, reaching VND1.935 trillion. — VNS