FPT education segment increased dramatically due to student enrollment
By Viet Hung
October 29, 2018 | 07:54 AM GMT+7
FPT Education delivered a strong enrollment growth of 50 per cent compared to the same period of last year.
FPT University
After first nine months of 2018, FPT posted revenue of nearly $697 million, decreasing 48 per cent year over year as it did not take FPT Trading and FPT Retail that FPT made divestment last year into account.
Excluding these companies, FPT's revenue achieved strong growth of 21 per cent, driven by the growth of its core business. It recorded a profit before tax of about $118 million.
The biggest contribution was still technology sector which recorded revenue and before tax - profit of nearly $380 million and over $44 million, up 24 per cent and 37 per cent respectively compared to the same period of last year.
In which, the software outsourcing segment gained revenue of $254 million, increasing 35 per cent year over year. Its profit before tax was nearly $40 million, up 34 per cent. Japanese market continued to be the main driver contributing 57 per cent of total.
Recently, FPT spent $30 million acquiring a 90 per cent stake of Intellinet, an US-based purpose-driven management consulting and technology services firm, expanding the company’s footprint in the US.
The transaction shows that FPT aims to add consulting services to its range of IT services, thereby enabling the company to provide its customers with comprehensive services.
It is forecasted that in the next three years, FPT's revenue in the US, which is its second largest outsourcing market, may double.
The second largest contribution to FPT's revenue was telecommunication segment, of which profit before tax was over $48 million, up 20 per cent year over year.
It is notable that FPT Education delivered a strong enrollment growth of 50 per cent compared to the same period of last year, equivalent to 18,700 new students as of September 30th, 2018.
The overseas markets continued to be a key growth driver for FPT. After three quarters of 2018, its overseas markets recorded a healthy growth with revenue increased by 31 per cent to $274 million and before-tax profit up 40 per cent year over year to nearly $45 million.
The overseas revenue contributed 39 per cent to the corporation’s total revenue, from 16 per cent in same period last year.
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