IT major FPT reaps $231 mln in 9-month profit
FPT Corporation, Vietnam’s leading IT company, has recorded pre-tax profits of VND5,665 billion ($231 million) in the first nine months of the year, up 23.8% year-on-year and fulfilling 74.4% of the year's target.
The group's revenue during the period reached VND30,975 billion ($1.26 billion), up 24.1% and fulfilling 73% of the year's plan.
FPT headquarters in Pham Van Bach street, Cau Giay district, Hanoi. Photo courtesy of the corporation.
FPT said that its technology segment, including domestic and overseas IT services, continued to play a key role, contributing 57% of revenue and 47% of pre-tax profit at VND17,742 billion and VND2,635 billion ($107.5 million), up 24.1% and up 25.7% year-on-year, respectively.
Revenue from overseas IT services was VND13,479 billion ($549.7 million), up 29.4% year-on-year. Pre-tax profit from this segment rose 27.6% year-on-year to more than VND2,210 billion ($90.13 million).
Of the revenue from overseas IT services, the U.S. recorded the highest growth of 42.4%, while the figure for the Asia-Pacific and Japanese markets was 56.4% and 12%, respectively.
FPT targets revenues of VND42,420 billion ($1.73 billion) and pre-tax profits of VND7,618 billion ($310.7 million) this year, up 19% and 20.2% year-on-year, respectively.
On the Ho Chi Minh City Stock Exchange, the FPT share price was VND75,500 ($3.1) at the October 19 closing session.
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