FPT profits up 12.8 pct

By Minh Son January 26, 2021 | 09:00 pm PT

A woman goes past the FPT Corporation's headquarters in Hanoi. Photo by Reuters.

IT giant FPT Corporation has reported a 12.8 percent increase in pretax profit to VND5.26 trillion ($228 million) last year, and attributed it to its digital transformation.

Revenues increased by 7.6 percent to VND29.83 trillion.

"The growth in revenues and profits is a result of successfully adapting to the economic instability," the company said.

Its tech operations accounted for VND16.8 trillion, or 56 percent of revenues, telecom for VND11.4 trillion, or 39 percent, and education and investment for the remaining 5 percent.

Foreign markets accounted more than VND12 trillion of its tech sales, up 10.6 percent. Its Japan and Asia-Pacific markets grew by 9 percent and 28 percent.

In 2020, it opened an office each in Canada, the Middle East, India, and Costa Rica, taking its total number of offices to 52 in 25 countries and territories.

Profits in the domestic market increased by 7 percent to VND267 billion despite a 2.6 percent drop in revenues.