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FPT reports 11-month after-tax profit of VND6,027 billion, up 19% YoY

Khanh Minh Saturday | 12/16/2023 11:23

Photo: FPT

FPT's post-tax profit reached VND6,027 billion in the first 11 months of 2023, an increase of 19% from a year earlier, according to the company's statement.

Revenue and pre-tax profit in the reviewed period were VND47,201 billion and VND8,545 billion, respectively, up 20.3% and 19.2% from the same period the previous year.

FPT has completed 90.3% of the revenue goal and 94.4% of the profit objective for the entire year 2023 with these accomplishments. The internet firm earned more than VND4,700 in revenue and about VND860 billion in pre-tax profit in November alone.

The technology sector (including domestic and foreign IT services) remained important, accounting for 59% of sales and 46% of pre-tax earnings. Revenue was VND27,980 billion, while pre-tax profit was VND3,956 billion, up 23% and 21%, respectively, over the same time last year.

International IT services revenue reached VND22,075 billion, while pre-tax profit was VND3,655 billion, both of which increased by approximately 29% over the same period the previous year. APAC came in second with 30.2%, with the Japanese market taking the lead at 46%.

The Japanese market witnessed revenue growth in yen approaching 54% due to the significant demand for IT spending in this sector, notably spending on digital transformation. FPT also received numerous new orders in overseas markets, with sales exceeding VND24,836 billion, or a roughly 21% increase.

Domestic IT services revenue totaled VND5,905 billion, representing a 5.5% increase. To maintain growth, FPT continues to foster collaboration with the government, ministries, and overseas industries.

FPT has recently taken numerous steps to extend and enhance the technological area. In early December, the organization announced the acquisition of 80% of AOSIS, a French technology consultancy firm.

With AOSIS's participation, FPT will extend its customer base and commercial opportunities, as well as improve capacity in the domains of SAP, data, cloud, and smart solutions for enterprises focusing on products and services. Aerospace, aviation, and transportation are all examples of industries.

FPT has decided to build FPT Automotive in Texas, United States of America. The corporation will concentrate its efforts in key markets such as the United States, Europe, Japan, Korea, China, and Vietnam.

Customers may expect FPT Automotive to supply a wide range of services, including entertainment technologies, in-car information, electronic control units (ECU), safety and security functions, and UI/UX design for automotive, wireless, and digital connectivity.

FPT's Telecommunications Services Division generated VND14,379 billion in income over the last 11 months, an increase of 8% over the same period last year. Profit before taxes climbed by approximately 11% to VND2,854 billion.

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