FPT’s profit before tax grows over 19% in 11 months

FPT’s headquarters in Cầu Giấy District, Hà Nội. — Photo courtesy of FPT

 HÀ NỘI — After 11 months of operation this year, FPT Corporation reported positive results, completing 90.3 per cent of the revenue plan and 94.4 per cent of the profit target for the whole of 2023.

In a business report, FPT said that it had achieved a revenue of VNĐ47.2 trillion (US$1.9 billion) in the first 11 months of 2023, up 20.3 per cent year-on-year. Its profit before tax also increased 19.2 per cent to over VNĐ8.5 trillion. 

It is estimated that in November alone, FPT recorded a revenue of more than VNĐ4.7 trillion, with profit before tax of nearly VNĐ860 billion.

After the 11 months of the year, the technology segment, which includes domestic and foreign IT services, continued to play a key role, contributing 59 per cent of revenue and 46 per cent of pre-tax profit.

Revenue and pre-tax profit from the technology sector reached VNĐ27.98 trillion and nearly VNĐ4 trillion, respectively, up 23 per cent and 21 per cent on-year. 

In particular, IT services revenue in the foreign markets reached VNĐ22.1 trillion, while pre-tax profit was nearly VNĐ3.7 trillion. Both indicators gained about 29 per cent over the same period last year. The Japanese market led the increase with 46 per cent, followed by APAC with a rise of 30.2 per cent.

The company said that the Japanese market witnessed revenue growth of 54 per cent on weak yen and large demand for IT spending in this market, especially spending on digital transformation. 

FPT also received many new orders from foreign markets with revenue reaching VNĐ24.8 trillion, equivalent to a growth of nearly 21 per cent.

The domestic IT Services segment recorded a revenue of VNĐ5.9 trillion, up 5.5 per cent from last year.

FPT continues to promote cooperation with the government, ministries and foreign businesses to maintain growth.

Recently, FPT has continuously made moves to expand and develop the technology field. In early December, FPT announced the purchase of 80 per cent of AOSIS shares, a technology consulting company headquartered in France.

With the participation of AOSIS, FPT will enlarge its customer base and business opportunities, improve capacity in the fields of SAP, Data, Cloud and smart solutions for businesses focusing on the fields of aerospace, aviation and transportation. — VNS