Vietnamese Tech Firm Achieves $60 Million in International Revenue
FPT Software, a leading technology group in Vietnam, experienced a significant increase in both revenue and profit from international markets during the first quarter. The company’s global operations, with Japan as the largest market, contributed to this growth.
The software export and IT product retail segments were the highlights of FPT’s business in the first quarter. Software export revenue grew by 42 percent, while pre-tax profit increased by 18 percent, surpassing the target by reaching 104 percent and 100 percent, respectively.
FPT’s retail sector also showed impressive growth, with revenue rising by 35 percent and pre-tax profit by 47 percent in the first three months. This achievement exceeded the target, reaching 107 percent and 105 percent, respectively.
According to the company’s recent report, FPT’s revenue from abroad reached VND1.24 trillion ($56 million) in the first quarter of 2016, marking a 36 percent year-on-year increase. Profit also climbed by 53 percent, reaching VND175 billion ($8 million).
The flagship market of FPT’s global operations, Japan, experienced a remarkable 57 percent year-on-year increase in revenue, representing the highest growth rate since FPT entered international markets.
FPT’s total revenue in Q1/2016 amounted to VND8.57 trillion (over $385 million), achieving 101 percent of the target. Pre-tax profit reached VND563 billion ($25 million), surpassing the target by 10 percent. The post-tax profit was VND346 billion ($15 million), meeting 104 percent of the target.
Earnings per share (EPS) reached VND870 ($0.04), equivalent to 104 percent of the target. However, FPT’s growth in Q1/2016 was lower compared to the previous year due to increased investment in telecommunication infrastructure and the absence of recovery in the domestic market.