FPT targets 18 percent growth in pre-tax profit

Hanoi (VNA) – FPT
Corporation is aiming to earn 32.45 trillion VND
(over 1.38 billion USD) in revenue and 5.51 trillion VND in pre-tax profit this year, gaining 17 percent and 18 percent respectively against 2019.

With a digital transformation strategy in place, the corporation expects to maintain its growth momentum from last year, with its technology business acting as a key growth driver, according to its newly-adopted 2020 business plan.

FPT also plans to issue nearly 3.4 million shares, equivalent to 0.5 percent of its charter capital, before June 30. The shares will be non-transferable for 3 years.

In addition, the group has approved raising FPT Software’s charter capital to 2.8 trillion VND from 2.4 trillion VND, and FPT Education’s to 1 trillion VND from 600 billion VND.

Ending 2019, FPT Corporation reported a pre-tax profit of nearly 4.7 trillion VND (203.3 million USD) on revenue of 27.7 trillion VND (1.19 billion USD), both up around 20 percent.

Earnings per share (EPS) were 4,220 VND, up 19 percent.

The profit margin was slightly up at 16.8 percent compared to 16.6 percent in 2018.

Revenue from the technology business exceeded 15.78 trillion VND, accounting for 57 percent of the corporation’s total income and up 17.8 percent year on year, while its pre-tax profit reached more than 1.97 trillion VND, up 29.9 percent./.

VNA

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