FPT aims to increase profit by 18%

Saturday, Feb 15, 2020 07:54

An FPT office. FPT targets to increase its profit before tax by 18 per cent in 2020. — File Photo

FPT Corporation plans to earn VND32.45 trillion (US$1.4 billion) this year, with profit before tax of VND5.5 trillion.

The corporation expects revenue to increase 17 per cent over last year and profit before tax to grow 18 per cent.

FPT’s board of directors has just approved the business plan for this year.

Accordingly, with a digital transformation strategy, FPT expects to maintain its high profit growth momentum, in which the technology sector would be its main growth engine.

In addition, the board of directors approved increasing the charter capital of FPT Software from VND2.4 trillion to VND2.8 trillion.

The charter capital for FPT Education would be increased from VND600 billion to VND1 trillion.

FPT Corporation reported profit before tax of nearly VND4.7 trillion on revenues of VND27.7 trillion last year, around a 20 per cent increase in both cases.

Earnings per share was VND4,220, up 19 per cent.

Last year, FPT’s technology segment, its key growth driver, achieved revenues and profits of VND15.78 trillion and VND1.97 trillion, marking respective increases of 17.8 per cent and 30 per cent. — VNS

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