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 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.