FPT records 41 percent increase in pre-tax profit

FPT Corporation reported a consolidated revenue of 43.8 trillion VND (1.93 billion USD) by the end of last year (Photo: VNA)

Pre-tax profit of the corporation increased by 41 percent year-on-year to 4.25 trillion VND, while after-tax profit reached 3.52 trillion VND, up 37 percent.

The impressive growth of FPT’s earnings last year came mainly from positive business results and earnings from divestments in two companies: FPT Retail and FPT Trading.

The year-to-date profit-after-tax attributable to the parent company’s shareholders was 2.92 trillion VND, up 47 percent year-on-year.

The earnings on each share was 5.12 VND, up 50 percent over the previous year.

FPT’s earnings growth last year continued to be driven by two core business sectors - technology and telecom.

The technology sector recorded a revenue and pre-tax profit of 11.1 trillion VND and 1.13 trillion VND, up 11 percent and three percent, respectively, compared to 2016.

The telecom sector’s revenue increased by 15 percent year-on-year to 7.65 trillion VND, while pre-tax profit was 1.2 trillion VND, slightly increasing by two percent.

FPT’s overseas markets recorded a revenue of 7.2 trillion VND, up 18 percent over the same period in 2016, and pre-tax profit was 1.21 trillion VND, up 29 percent, accounting for nearly one-third of the consolidated pre-tax profit.

FPT’s overseas revenue comes mainly from software exports to key markets in Japan, the United States and Europe.-VNA