FPT Telecom's revenue and profits reach record high

FPT Telecom (stock code: FOX) announced financial results for its fiscal 2016 fourth quarter. The company earned VND 1,744.5 billion in revenue and VND 291.5 billion in profit after tax. In the fourth quarter alone, revenues achieved a 16% increase while profit was VND 888.8 billion, an increase of VND 190 billion yey as cost-price increased by only 6%. These results increased by 15.6%y and 45.2% respectively yoy.

Accordingly, in 2016, FPT Telecom earned VND 1,192 billion in profit before tax, exceeding 12% of the year's profit target (VND 1,060 billion) and more than VND 1,010 billion in profit after tax. Profit after tax attributable to parent company shareholders was VND 918 billion. FOX’s revenue and profit were increased by 19.7% and 14.5% over the same period in 2015.

In 2016, FOX set the year's revenue target of VND 6,560 billion and the year's profit before tax target of VND 1,052 billion, dividend of 20% or more. Thus, FPT Telecom achieved 101.6% of the 2016 target revenue and 96% of target profit.

The revenue (VND 6,666 billion) and profit after tax (VND 1,010 billion) reached record high in the past 20 years.

FPT Telecom has traded VND 137 million shares on UpCOM with the code FOX. The first trading day was on 13th January 2017. The reference price in the first trading day was VND 54,000/share. Thus, the capitalization of FPT Telecom when being listed on the stock floor was over VND 7.400 billion. After nearly one month , the price was increased by 77%, from VND 54,000 to VND 95,500/share. the capitalization was VND 13,100 billion.