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FPT profits up 30% in 2018

Released at: 15:41, 30/01/2019

FPT profits up 30% in 2018

Photo: FPT

Revenue and profits up handily in 2018.

by Do Huong

FPT exceeded its 2018 plan in earning revenue of VND23.2 trillion ($1 billion) and recording pre-tax profit of VND3.8 trillion ($164 million), equal to 106 per cent and 111 per cent of the 2018 target and up 17 per cent and 30 per cent year-on-year, respectively, in a like-for-like comparison excluding the one-off profit from divestments in FPT Retail and Synnex FPT and incorporating those under the equity method.

After-tax profit and that attributable to the parent company’s shareholders were VND3.2 trillion ($138.1 million) and VND2.6 trillion ($112.2 million), up 30 per cent and 35 per cent, respectively. Earnings-per-share (EPS) was VND3,897. The pre-tax profit margin was 16.6 per cent, up 1.7 times over 2017.

The technology sector recorded revenue and pre-tax profit of VND13.4 trillion ($578.3 million) and VND1.5 trillion ($64.7 million), equal to 110 per cent and 104 per cent of the 2018 target and up 21 per cent and 34 per cent year-on-year, respectively.

Software outsourcing recorded revenue of VND8.4 trillion ($262.1 million), up 35 per cent year-on-year. Pre-tax profit was VND1.3 trillion ($56 million), up 27 per cent year-on-year. All market revenues of this segment saw impressive growth, ranging from 23 per cent to 55 per cent year-on-year.

Telecom saw revenue jump 15 per cent, to VND8.8 trillion ($379.4 million), equal to 102 per cent of the annual target. Pre-tax profit was VND1.4 trillion ($60.3 million), equal to 105 per cent of the target and up 19 per cent year-on-year.

Telecom services was the key growth driver, contributing 94 per cent to the sector’s revenue. Revenue and pre-tax profit were VND8.3 trillion ($357.7 million) and VND1.1 trillion ($47.4 million), up 16 per cent and 26 per cent year-on-year, respectively, thanks to good business operations and a lower contribution rate to the Vietnam Public Utility Telecommunication Service Fund compared with 2017.

Regardless of instability in the global economy, FPT’s “Going Global” strategy continues to be an essential growth driver.

Overseas markets brought FPT revenue of VND9.1 trillion ($392.1 million) in 2018, up 26 per cent year-on-year, while pre-tax profit of VND1.47 trillion ($63.3 million) was up 27 per cent. Overseas revenue contributed 39 per cent to the total, up from 16 per cent in 2017.

With a strategic focus on digital transformation, this service line’s revenue from overseas markets was VND1.67 trillion ($72.1 million), up 31 per cent year-on-year and contributing 20 per cent to software outsourcing revenue.

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Vietnam HR Awards Forum 2019 set for November in HCMC
Vietnam HR Awards Forum 2019 set for November in HCMC