FPT technology business profits rise by 30 per cent

Friday, Jan 31, 2020 08:25

FPT’s technology business reported profits rose by 30 per cent last year. — Photo courtesy of FPT

FPT Corporation has reported profit before tax of nearly VND4.7 trillion (US$203.3 million) on revenues of VND27.7 trillion ($1.19 billion) last year, around a 20 per cent increase in both cases.

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

The profit margin was slightly up at 16.8 per cent compared to 16.6 per cent in 2018.

With a digital transformation strategy in place, FPT expects to maintain its growth momentum this year, with the technology business being a key growth driver.

Last year, the segment achieved revenues and profits of VND15.78 trillion and VND1.97 trillion, marking respective increases of 17.8 per cent and 30 per cent.

The telecom segment saw revenues rise by 17.7 per cent to VND10.39 trillion and profits by 24.1 per cent to VND1.8 trillion.

Profits from foreign operations were VND1.89 trillion on revenues of VND11.45 trillion, increases of 26.9 per cent and 25.7 per cent.

The profits accounted for 41 per cent of overall profits. — VNS

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