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FPT reports pre-tax profit of US$47.7 million
Ngoc Thuy 15:45, 2018/05/21
Vietnam`s leading technology firm FPT reported its pre-tax profit at VND1.09 trillion (US$47.7 million) by the end of April, increasing 34% year on year, announced the firm.
In the first four months, FPT recorded revenue at VND6.52 trillion (US$285.2 million), equivalent to 106% of the accumulated target, while the said pre-tax profit is equal to 118% of the accumulated target. 
 
Illustration photo.
Illustration photo.
In compared to the same period of last year, both FPT's revenue and pre-tax profit have increased 22% and 34%, respectively (in like for like comparison, merging business results of FPT Retail and Synnex FPT). 

Substantially, the technology department reported revenue and pre-tax profit of VND3.4 trillion (US$148.7 million) and VND369 billion (US$16.14 million), up 28% and 36% respectively. 

Meanwhile, FPT's software export turnover is reported at VND2.26 trillion (US$98.87 million) in the first four months, up 27% year on year, resulting in pre-tax profit of VND336 billion (US$14.7 million), up 25% compared to the same period of last year. 

The telecommunication department recorded revenue up 15% at VND2.7 trillion (US$118 million), while its pre-tax profit of VND455 billion (US$20 million), up 12% compared to the previous year. 

FPT's foreign markets also contributed VND2.45 trillion (US$107 million) in revenue, up 25% and pre-tax profit of VND378 million (US$16.5 million), representing an increase of 33% over the last year period. 

At present, revenue from foreign markets account for 38% of the corporation's total revenue, up 22% over the last year's period. 

As at April, FPT's after-tax profit reached VND919 billion (US$40.2 million), up 21% year on year. 

FPT was ranked in Top 10 most profitable companies in Vietnam Report's Profit 500 - Top 500 Vietnamese firms with the highest profits in 2017.

In the first quarter of 2018, FPT continued to sign a software contract worth USD100 million with innogy SE (owned by RWE Group) for the forthcoming period (2018-2024) - the largest contract in FPT's history of 30 years. According to the contract, FPT will provide technological solutions based on SAP, IoT and digital transformation platforms for innogy SE.
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