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Tuesday, June 25, 2024

FPT’s Jan-Sept revenue grows 22.4%

The Saigon Times

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HCMC – FPT Corporation (HOSE: FPT) has announced its financial results in January-September, with its revenue growing 22.4% over the same period last year to VND37.9 trillion.

The company’s pre-tax profit in this period rose 19.5% against the same period in 2022 to nearly VND6.8 trillion.

The technology sector was the major contributor to the company’s strong performance, with revenue of VND22.5 trillion, up 25.7% year-on-year. International IT services were a significant part of this growth, with a 30.8% increase.

The company saw revenue growth of 44.1% in Japan and 37.6% in the Asia-Pacific. The growth was primarily driven by higher expenditures on digital transformation services, totaling about VND7.7 trillion, soaring 46% compared to the first nine months of 2022.

FPT secured several large overseas contracts in the nine months, including 20 projects valued at over US$5 million each. The company’s new contract revenue expanded 23.2% to roughly VND20.7 trillion.

On the domestic front, FPT’s IT services brought total revenue of nearly VND4.9 trillion, edging up 10% year-on-year. However, pre-tax profit in this segment declined by 34.1% to VND250 billion.

Apart from its technology sector, FPT reported robust growth in other areas. Its in-house branded ecosystem posted 45% revenue growth, at around VND1 trillion.

The telecom services division fetched VND11.3 trillion in revenue and VND2.2 trillion in pre-tax profit, up 10.1% and 15% year-on-year, respectively.

The company’s educational sector also performed well, with revenue soaring 43% to VND4.4 trillion.

FPT inched down 3.82% to VND93,100 per share at the close today, October 17, with a matching volume of over 2.4 million shares.

The VN-Index of the Hochiminh Stock Exchange fell 19.77 points, or 1.73%, to 1,121.65 points, with winners outnumbering losers by 378 to 107.

Trading volume and value decreased by around 10% compared to the previous session, reaching 610.5 million units and over VND13.6 trillion. Block deals contributed nearly VND1.1 trillion to the overall value, with 44 million shares changing hands.

Only four bluechips – VJC, HDB, VPB and VRE – advanced in the VN30 basket, which comprises the 30 largest-cap stocks. SHB managed to stay at its reference price, while the rest declined. The VN30-Index edged down 12.18 points to 1,141.03 points.

GVR made the biggest loss on the stock market as it plunged 5.9% to VND20,200 per share. Other significant decliners included MWG at 4.7% and FPT at 3.8%.

The Hanoi Stock Exchange echoed the negative sentiment, with the HNX-Index dropping 4.63 points, or 2.72%, at 230.03 points. The northern exchange saw 47 stocks gaining and 119 others dipping by the end of the trading session, with a trading volume of over 90.8 million shares worth VND1.9 trillion.

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