FPT Corp profits surge 24 pct in H1

By Minh Son July 20, 2022 | 11:28 pm PT

The FPT Headquarters in Hanoi. Photo by VnExpress/Minh Son

IT giant FPT Corp has reported pre-tax profits of VND3.6 trillion ($153.8 million) for the first half, a 23.9 percent rise year-on-year.

Its revenues were up 22.2 percent to VND19.8 trillion.

Rising demand for technologies, especially for digital transformation and telecommunication, was the main growth driver, its management said.

Technology remained FPT’s key business, accounting for 57 percent of sales and 45 percent of pre-tax profits, with most foreign markets seeing double-digit growth, including the U.S (48.4 percent), Asia - Pacific (55.5 percent) and Japan (18 percent).

Sales related to digital transformation rose by 65 percent to VND3.5 trillion.

FPT’s telecommunications business saw revenues rise by 15 percent to VND7 trillion, and profits by 40 percent to 1.4 trillion.

FPT Education reported a 42 percent increase in revenues to VND1.9 trillion.