FPT Corporation has announced its VND27,340 billion revenue (roughly US$1,204.9 million) after eight first months of 2017, 11 per cent higher than the same period of last year. Its profit after tax also increased by 15 per cent, reaching VND1,697 billion (roughly US$74.79 million) in which the foreign market accounted for 33 per cent.
Besides, FPT’s two core business areas continue experiencing high growth rates. Specifically, in the past eight months, earnings before tax in technology and telecommunication increased by 28 per cent and 13 per cent in turn.
FPT’s revenue and accumulated earnings in the retail area also increased by 25 per cent and 44 per cent respectively.
FPT has completed its divestment of a 30 per cent stake in FPT Retail to independent funds managed by VinaCapital, a real estate development firm, and Dragon Capital, a well-established financial services group. The corporation plans to list FPT Retail on the Hochiminh Stock Exchange (HOSE) before April 2018, with a 10 per cent stake being sold to private investors via the Initial Public Offering (IPO).
FPT also sold its 47 per cent stake worth US$35 million in FPT distribution to Taiwan-based Synnex Technology International.
The corporation revealed that after the divestment of the two companies without consolidating in the financial statement, technology and telecommunications would become the major areas, contributing 95 per cent to the corporation’s total revenue. Also, FPT’s rate of return is expected to increase from 7.4 per cent to 14.6 per cent.
