FPT’s profit before tax increases 32 per cent in H1

Tuesday, Jul 24, 2018 08:17

FPT’s revenue and profit before tax in the first six months of this year grew 19 per cent and 32 per cent year-on-year respectively. — Photo genk.vn

Ending the first half of the year, FPT’s revenue and pre-tax profit exceeded the year-to-date target and achieved strong growth.

Its revenue and pre-tax profit grew 19 per cent and 32 per cent year-on-year respectively, in like for like comparison (FPT Retail and Synnex FPT were regarded as associates for the first half of last year).

Particularly, FPT recorded revenue of VND10.23 trillion (US$450.67 million), equal to 105 per cent of the year-to-date target.

Profit before tax was VND1.69 trillion, equal to 113 per cent of the year-to-date target.

The technology sector recorded revenue and profit before tax of VND5.46 trillion and VND592 billion, up 21 per cent and 31 per cent year-on-year, respectively. Of which, the software outsourcing segment recorded revenue of VND3.58 trillion, up 29 per cent.

Profit before tax for the reported period was VND532 billion, up 23 per cent. The telecom sector saw its revenue up 15 per cent, to VND4.19 trillion, profit before tax was VND727 billion, up 17 per cent.

Overseas markets continued to be a key growth driver for FPT. In the first six months, FPT’s overseas markets recorded a healthy growth with revenue increasing by 27 per cent to VND3.89 trillion, and profit before tax up 35 per cent year-on-year to VND607 billion. Overseas revenue contributed 38 per cent to the corporation’s total revenue, up 23 per cent from 15 per cent in the first half of last year. With a strategic focus on digital transformation, this service line’s revenue from overseas markets was VND742 billion, up 41 per cent year-on-year.

Through acquiring 90 per cent of Intellinet Consulting, LLC – an IT consulting firm among the top 50 fastest growing consulting firms in the US, FPT will provide more comprehensive services with higher added value to leading global companies, especially in digital transformation. — VNS

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