Q1 revenue and profit before tax both up 14% YoY

In the first quarter of 2017, FPT recorded consolidated revenue of VND 9,768 billion, up 14% YoY, equal to 106% of the year-to-date (YTD) target. Profit before tax (PBT) has also increased by 14% YoY to VND 643 billion, which was equal to 107% of the 1Q target. Profit after tax (PAT) was VND 540 billion, up 21% YoY.

PAT attributable to parent company’s shareholders and EPS both achieved growth rate of 19% YoY, to VND 413 billion and VND 899, respectively.

Profit growth of FPT remained driven by the two core businesses including Technology and Telecom sectors, which altogether accounted for 74% of the consolidated profit before tax of the group. More specifically, profit before tax of the Technology and Telecom sectors increased by 38% and 18% YoY, respectively.

The Distribution and retail sector has achieved 107% and 104% of the first quarter’s targets, yet the profit before tax of the sector decreased by 14% YoY due to poor performance of the mobile handset distribution as reflected in the plan. Meanwhile, the retail segment continued to perform outstandingly in the first quarter, with its revenue up 33% and profit before tax up 45% YoY.

With thirty one percent contribution to the consolidated PBT in the first quarter, overseas markets continued to be a key profit growth driver of FPT. More specifically, in 1Q2017, FPT’s overseas markets recorded revenue of VND 1,420 billion, up 14% YoY, and PBT of VND 200 billion, also up 14% year on year.