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FPT overseas revenue up 36% in Q1

Released at: 15:52, 05/05/2016

FPT overseas revenue up 36% in Q1

Corporation's Going Global strategy continues to reap impressive results.

by Minh Tuyet

FPT earned revenue of VND8.567 trillion ($384.4 million) in the first quarter of the year, reaching 101 per cent of its target.

Profit before tax (PBT) was VND563 billion ($25.2 million), 10 per cent higher than targeted. Profit after tax was VND346 billion ($15.5 million), or 104 per cent of the target, while earnings per share (EPS) stood at VND870 ($0.039), or 104 per cent of the target.

While revenue and profit results have all exceeded the year-to-date target they are lower than last year due to greater investments in telecom infrastructure and saturation in the domestic market. Such factors were anticipated and reflected in the first quarter’s plan.

The company expects that from the third quarter investment in telecom infrastructure will be lower and domestic-related segments, including software solutions, systems integration and IT services will record higher revenue.

Software outsourcing and the retail segment continued to be highlights in the corporation’s business performance in the first quarter, with the former seeing revenue and PBT increasing 42 per cent and 18 per cent, respectively, equal to 104 per cent and 100 per cent of the year-to-date target. The retail segment delivered impressive growth of 35 per cent in revenue and 47 per cent in PBT, equal to 107 per cent and 105 per cent of the targets, respectively.

In Japan, which is FPT’s largest overseas market, growth of 57 per cent growth year-on-year has been recorded in recent years.

The Going Global strategy continued to bring positive results, with overseas revenue rising by 36 per cent year-on-year to VND1.242 trillion ($55.72 million). PBT from overseas markets was VND175 billion ($7.85 million), an impressive increase of 53 per cent year-on-year.

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