Vietnam leading tech company records $60 million in revenue from abroad

By DNVN, Dam Tuan   May 7, 2016 | 02:10 pm GMT+7

Both revenue and profit of FPT from international markets hiked after the first quarter, with Japan as the largest market for FPT’s global operations.

Vietnam's leading technology group's revenue from abroad reached VND1.24 trillion ($56 million) in the first quarter of 2016, a 36 percent increase year on year, according to the company's recent report. Profit also climbed 53 percent at VND175 billion ($8 million).

Revenue from Japan, the flagship market of FPT’s global market operations, recorded a 57 percent increase year on year, marking the record growth of this market since FPT entered international markets.

vietnam-leading-tech-company-record-60-million-in-revenue-from-abroad

FPT gains robust profits from international markets. Photo by DNVN

Total revenue registered by FPT in Q1/2016 was VND8.57 trillion (over $385 million), achieving 101 percent of the target.

The pre-tax profit was VND563 billion ($25 million), exceeding the target by 10 percent while FPT's post-tax profit was VND346 billion ($15 million), meeting 104 percent of the target.

Earnings per share (EPS) arrived at VND870 ($0.04), equivalent to 104 percent of the target.

However, FPT's growth in Q1/2016 decreased year on year due to increased investment in telecommunication infrastructure and absence of recovery in the domestic market.

The expenditure for telecommunication infrastructure this year is estimated to fall while fields focusing on the domestic market, including software solution, system integration and IT services, will drag the revenue from the third quarter of 2016.

Software export and IT product retail remain to be the two spotlights of FPT’s business in the first quarter. Software export revenue recorded the growth rate of 42 percent and its pre-tax profit increased by 18 percent, reaching 104 percent and 100 percent of the target, respectively.

FPT's retail field also saw an impressive growth with revenue up 35 percent and pre-tax profit up 47 percent in the first three months, achieving 107 percent and 105 percent of the target, respectively.

 
 
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