FPT Records 19.5% Increase in Profits with Robust Overseas Business

FPT, the technology giant, has announced its financial results for the first nine months of this year. The company reported pre-tax profits of VND6.7 trillion (US$279.2 million), reflecting a 19.5% year-on-year increase, along with revenues of VND37.9 trillion, showing a growth of 22.4%.

FPT’s information technology business continued to play a significant role, contributing 46% to the profits and 59% to the revenues. This segment witnessed a substantial increase in revenues by 25.7% and profits by 20.8%.

The company experienced strong growth in foreign markets, particularly in Japan, where revenues surged by 31% to VND17.626 trillion, and profits increased by 30% to VND2.878 trillion. However, domestically, FPT faced challenges due to declining demand from corporate customers, resulting in a 34% decrease in profits to VND250 billion, although revenues saw a 10.2% increase to VND4.9 trillion.

FPT expressed its commitment to further collaboration with the government, ministries, provinces, cities, and foreign businesses. The company has already signed agreements with nearly 30 cities and provinces to drive digital transformation initiatives.

In terms of business divisions, FPT’s telecommunications division reported revenues of VND11.278 trillion, a 10% increase, and profits of VND2.217 trillion, a 15% increase. The education division saw a significant boost in revenues by 43% to VND4.435 trillion, driven by the growing demand for information technology training.