FPT profit rises by 20 pct

Created 22 October 2021
  • PDF
Editor Choice
(0 votes, average 0 out of 5)

Driven by high growth in both domestic and foreign revenues from technology services, IT giant FPT reported a surge in profits for the first nine months of 2021.

FPT profit rises by 20 pct

The company achieved pre-tax profits of VND4.58 trillion ($201.76 million), up 20 percent year-on-year, as revenues soared by 17.9 percent to VND25 trillion.

Its technology division, its main growth driver, accounted for nearly VND2.1 trillion of the profit and VND14.29 trillion of revenues as they grew by 30.4 percent and 22.1 percent.

Revenues from overseas also rose sharply, especially from the U.S. and Europe, thanks to their high Covid-19 vaccination rates and gradual recovery in economic activity.

Domestic tech sales surged 32.3 percent to VND3.88 trillion, with products in the ‘Made by FPT’ ecosystem accounting for VND415 billion, a 55 percent jump.

There has been a stream of large orders, including 16 worth over $5 million each, a 167 percent rise year-on-year.

Revenues from digital transformation services climbed by nearly 60 percent to VND3.95 trillion, especially from cloud computing, artificial intelligence (AI) and low code.


Source: VNE

Maybe You Also Interesting :

» Brands help Vietnamese rice enter more global markets

Vietnamese rice has been served for the first time for lunch at the Japanese Cabinet Office, according to the Vietnam Trade Office in Japan.

» Dong to weaken in next 12 months: UOB forecast

Singapore’s United Overseas Bank expects the dong to slip to VND24,300 to the dollar by the third quarter of next year.

» China Airlines set to fly from Taipei to Da Nang

China Airlines has announced plans to launch a direct service between Taiwan's Taipei and Da Nang on January 2 next year.