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FPT achieves double-digit profit growth in 2020

Created 27 January 2021
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FPT Corporation achieved pre-tax profits of VNĐ5.261 trillion (US$228.58 million) on revenues of VNĐ29.83 trillion ($1.29 billion) last year, a year-on-year increase of 12.8 per cent and 7.6 per cent, mainly driven by the digital transformation, overseas IT services and telecom.

FPT’s revenue and pre-tax profits increased by 7.6 per cent and 12.8 per cent last year, respectively. — Photo courtesy of the company

HCM CITY — FPT Corporation achieved pre-tax profits of VNĐ5.261 trillion (US$228.58 million) on revenues of VNĐ29.83 trillion ($1.29 billion) last year, a year-on-year increase of 12.8 per cent and 7.6 per cent, mainly driven by the digital transformation, overseas IT services and telecom.

Earnings per share rose to VNĐ4,119 a share, up 12.3 per cent.

IT fetched VNĐ16.81 trillion, 6.5 per cent up, and telecom fetched VNĐ11.47 trillion up 10.3 per cent, with the education and other investments took up the remaining five per cent.

Revenues from digital transformation projects, a strategic activity for FPT, grew by 31 per cent to VNĐ3.22 trillion.

IT services revenues and pre-tax profits from overseas markets were VNĐ12 trillion and VNĐ1.97 trillion, up 10.6 per cent and 14.4 per cent.

Revenues from education jumped by 22 per cent.

The year represented a great stride for the company in the international market as it signed large digital transformation consultancy contracts with some major companies.

It expanded globally, opening offices in Canada, the Middle East, India, and Costa Rica, bringing the number of its offices abroad to 52 in 25 countries and territories.

Domestic revenues were worth VNĐ4.81 trillion, a fall of 2.6 per cent, but pre-tax profits rose by around 7 per cent to VNĐ267 billion. — VNS


Source: VNN

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