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Saturday, June 22, 2024

FPT earns hefty profit in Jan-Feb

The Saigon Times

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HCMC – FPT Corporation, whose stock FPT is listed on the Hochiminh Stock Exchange, has reported strong growth in revenue and profit in the first two months of 2024.

The company’s revenue reached around VND9 trillion, up 23% over the same period last year, while its pre-tax profit amounted to VND1.6 trillion, up by 19.5% year-on-year.

The technology sector contributed VND5.2 trillion (58%) to the firm’s total revenue and VND658 billion (42%) to its pre-tax profit. These figures represented 26.1% and 27.8% growth, respectively, versus the same period in 2023.

Revenue from overseas IT services rose by 29.7% to more than VND4.3 trillion, driven by key markets such as Japan and the Asia-Pacific region.

With the positive business performance, FPT has achieved 14.5% of its 2024 revenue target. The firm looks to obtain VND61,850 billion in revenue and VND10,875 billion in pre-tax profit this year, both up by 18% against 2023.

Closing the trading session today, March 22, FPT edged down by 1.12% to VND114,900, with a matching volume of over 2.4 million shares.

With 248 winners and 231 losers, the Hochiminh Stock Exchange closed with a modest gain. The VN-Index rose by 5.38 points, or 0.42%, to 1,281.8 points.

Trading activity surged, with nearly 1.38 billion shares valued at VND34.7 trillion changing hands. These figures indicated a 10.4% improvement in trade volume and 17.29% in value, including more than 196.9 million shares worth nearly VND5.5 trillion being traded in block deals.

Bank stocks were the primary market drivers, with VCB, BID, and CTG each contributing over one positive point to the main index.

Other major sectors, including securities and real estate, closed with slight gains. Notable among them was KBC, which was up for a fourth straight session and ended 3.48% higher at VND35,700.

GEX stole the limelight due to strong buying from foreign and domestic investors. It shot up by 6.4% to VND24,950, with a substantial trading volume of nearly 72.1 million shares, the highest on the southern bourse.

On the northern bourse, the HNX-Index added 0.54 points, or 0.22%, at 241.68 points. There were more than 119.6 million shares changing hands on the bourse today, with a total value of over VND2.5 trillion.

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