FPT profits grow 20.4 pct in 2021

By Minh Son   January 21, 2022 | 09:00 pm PT
FPT profits grow 20.4 pct in 2021
The FPT Headquarters in Hanoi. Photo by VnExpress/Minh Son
IT giant FPT reported a 20.4 percent rise in pre-tax profits last year, mainly thanks to sharp growth in overseas revenues.

Sales rose 19.5 percent by VND35.68 trillion (US$1.55 billion) and profits to VND6.33 trillion, with technology services accounting for 58 percent and 44 percent.

Thanks to the surge in global demand for digital transformation, revenues from this segment soared 72 percent to VND5.52 trillion, mainly from cloud computing, AI and low-code.

IT services brought in over VND20.7 trillion in revenues and nearly VND2.8 trillion in profits, up 23.4 percent and 24.3 percent.

Overseas revenues rose by 21 percent to VND14.5 trillion, and profits to VND2.4 trillion. Sales increased in every region, with revenues in the U.S. market rising by 52 percent to VND4.369 trillion.

There were 19 foreign projects worth over $5 million each.

In the domestic market, IT services revenues and profits grew by 29 percent and 34 percent, with the company attributing the outstanding performance to a focus on developing its own solutions and platforms and its improved capacity to provide digital transformation services.

The telecom segment reported revenues of VND12.08 trillion, up 11.2 percent, and pre-tax profits of VND2.12 trillion, up 16.5 percent.

The firm said technology and telecommunications would continue to be its main business fields, and it targets entry into the world’s top 50 digital transformation services providers.

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