FPT Corporation has announced impressive financial results for the first seven months of 2024, with revenue reaching VND 34,243 billion and pre-tax profit (PBT) of VND 6,075 billion, a respective increase of 20.5% and nearly 20% year-on-year. Net profit after tax for the company’s shareholders (PAT) rose by nearly 23% to VND 4,285 billion, corresponding to an EPS of VND 2,934 per share.
In July 2024 alone, FPT’s PBT reached VND 875 billion, a 20% increase compared to the same period last year. Net profit for July surged by 25% year-on-year to VND 613 billion.
For the full year of 2024, FPT set a record-high business plan with a revenue target of VND 61,850 billion (~USD 2.5 billion) and a pre-tax profit goal of VND 10,875 billion, representing an approximate 18% increase compared to the results of 2023. With the achievements in the first seven months, the corporation has accomplished 55% of the revenue plan and 56% of the profit target.
The IT Services for Overseas Markets segment continued its impressive growth trajectory, generating revenue of VND 17,202 billion, equivalent to a 29.9% increase. This growth was driven by all four target markets, with the Japanese and APAC markets maintaining high growth rates of 34.5% (equivalent to 39% growth in Japanese Yen) and 34.3%, respectively. The order intake in overseas markets reached VND 21,553 billion, a 23.8% increase.
In the first seven months of 2024, FPT won 28 large projects with a value of over USD 5 million each, reflecting the increasing global demand for technology investments and underscoring FPT’s capabilities in technology provisioning.
Recently, FPT inaugurated its new office in the Mita district of Minatoku, one of the most prestigious and expensive areas in Tokyo, home to prominent corporations such as NEC Global and KCCS. This office also serves as the new headquarters of FPT in Japan. FPT currently employs over 3,500 staff across 17 offices and development centers in Japan, along with nearly 15,000 global experts dedicated to the Japanese market, providing digital services and solutions to more than 450 clients. FPT aims to expand its on-site workforce in Japan to 5,000 employees by the end of 2025 and achieve its first USD 1 billion in revenue by 2027.
The Domestic IT Services segment recorded revenue of VND 3,936 billion, equivalent to a 7.1% growth rate, propelled by technology investment demands from the banking and financial sectors.
The Telecommunications Services segment maintained its sustainable growth trajectory, with revenue reaching VND 9,725 billion in the first seven months, an increase of over 8%, and PBT of VND 2,063 billion, a nearly 16% year-on-year rise.
In the Education, Investment, and Other Services segment, revenue grew by 34% to VND 3,380 billion in the first seven months of 2024, while PBT reached VND 1,137 billion.
Novaland reports over VND 1,600 billion in profit for Q4/2023, bond debt reduced by VND 6,000 billion in one year.
In 2023, Novaland achieved a profit of over 800 billion VND, in contrast to the first half of the year when the company incurred a loss of over 1,000 billion VND.
Why did Hoang Nam Tien leave FPT Telecom for FPT University? Always making controversial statements.
Mr. Hoang Nam Tien is renowned for his inspiring speeches and “storm-causing” statements.
