FPT Corporation achieved revenue of 6.63 trillion VND (282.6 million USD) and pre-tax profit of 1.14 trillion VND (48.6 million USD) in the first quarter of the year, a year-on-year increase of 17 percent and 18.9 percent, respectively, surpassing 2 percent of its target.
FPT, recording 18.9 percent growth in pre-tax profit in the first quarter, has initiated measures to ensure business continuity and avoid risks amid the Covid-19 pandemic. (Photo: courtesy of the company)
HCM City (VNS/VNA) -FPT Corporation achieved revenue of 6.63 trillion VND (282.6 million USD) andpre-tax profit of 1.14 trillion VND (48.6 million USD) in the first quarter ofthe year, a year-on-year increase of 17 percent and 18.9 percent, respectively,surpassing 2 percent of its target.
Profit after tax reached 937billion VND (39.94 million USD), up 18 percent year-on-year. Earningper share was 1,101 VND, up 18.7 percent.
The pre-tax profit marginimproved to 17.2 percent compared to 16.9 percent over the same period lastyear
The global IT services andtelecom services were the growth engine for FPT, with profit before tax goingup by 27 percent and 29 percent, respectively, to reach 425 billion VND (18.1million USD) and 401 billion VND (17.1 million USD).
In addition, FPT has engaged inmany large digital transformation projects, recording 729 billion VND inrevenue in the first quarter, up 55 percent year-on-year.
Since many local companies areimpacted severely by the pandemic, FPT's revenue and profit earned fromdomestic IT services and online advertising have been affected.
The overseas market brought thecompany 2.89 trillion VND (123.2 million USD) in revenue, up 26 percentyear-on-year.
Revenue from the Asia-Pacificmarket went up by 59 percent in the period to top 450 billion VND, accountingfor 16 percent of overseas revenue.
Revenue from the US marketincreased by 28 percent, contributing 675 billion VND to the top line. TheJapan and EU markets enjoyed growth rates of 19 percent and 17 percent,respectively.
The company’s performance inthe first quarter was not affected greatly by COVID-19, but due to theunpredictability of the virus outbreak, the operation of FPT is likely to bedisrupted in the second quarter.
Its management board thereforehas activated a wartime working mode and prepared different scenarios based onprojections of the pandemic, ensuring business continuity and sidesteppingrisks./.
FPT Corporation is aiming to earn 32.45 trillion VND (over 1.38 billion USD) in revenue and 5.51 trillion VND in pre-tax profit this year, gaining 17 percent and 18 percent respectively against 2019.
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FPT, recording 18.9 percent growth in pre-tax profit in the first quarter, has initiated measures to ensure business continuity and avoid risks amid the Covid-19 pandemic. (Photo: courtesy of the company) 
