FPT dials in unflattering 2012 results
Despite a 15 per cent downward adjustment to its profit plan for 2012, its profit only made up 92 per cent of its results in 2011.
According to report to submit the shareholders meeting early April, the group reached revenue and after-tax profit of VND25.35 trillion ($1.2 billion) and VND1.54 trillion ($74 million), down by 2.4 and 8.4 per cent year on-year, respectively.
Le Thi Ngoc Anh, a Vietcombank Securities Company researcher, said the payout ratio of most of FPT’s business sectors declined, with manufacturing and distribution of IT products and system integration seen a sharp decrease.
Accordingly, the manufacturing and distribution of IT products, which made up 57 per cent of its revenue, saw a 12 per cent decrease in revenue and 24 per cent decrease in pre-tax profit on-year. The level of system integration was 11 and 19 per cent, respectively.
Short and long-term investment provision sharply rose in 2012 with the standby up 3.5 times or VN191 billion ($9.18 million), while investment activities profits declined.
The group’s deputy chairman Nguyen Quang Ngoc claimed FPT strived to earn a revenue of VND26,926 billion ($1.28 billion) and pre-tax profits VND2,646 billion ($126 million) this year, surging 6 and 10 per cent, respectively, over 2012.
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