FPT records strong first quarter revenues

FPT  reached the revenue and pre-tax profits of VND5.682 trillion ($273.2 million), and VND574 billion ($27.6 million) for the first quarter, up by  5 per cent and 2 per cent respectively.

Its after-tax profit was reported to at VND475 billion ($22.8 million) and profit for parent company's shareholders reached VND358 billion ($17.2 million), up by 3 per cent and 5 per cent year-on-year.

According to FPT, its sectors of service and software have continued to strongly develop. Its software exports grew by 46 per cent over the same period last year, which is considered a satisfactory result in the situation that the first quarter is often low season for technology industry.

In 2012, the group reached revenue and after-tax profits of VND25.35 trillion ($1.2 billion) and VND1.54 trillion ($74 million), down by 2.4 per cent and 8.4 per cent year on year, respectively.

In respect to development targets in 2013, FPT strives to report revenue of VND26.926 trillion ($1.28 billion) and pre-tax profits VND2.646 trillion ($126 million), surging 6 and 10 per cent, respectively, over 2012.

Of this amount, the revenue from the manufacture and distribution of handsets is expected to reach  VND7.755 trillion ($370 million), up 5 per cent while that from manufacture and distribution of IT products come to VND5.930 trillion ($282 million), from telecom services VND3.170 trillion or $151 million (up 15 per cent).

In its development plan for 2013 and onwards, FPT emphasised generating revenue from tapping new products, services as well as new markets, in which innovation is regarded as the factor helping the group to make differences.

"We will focus on developing the service areas which generate high added values and envisage stable money flows  in the current context of economic uncertainties," said FPT's CEO and chairman Truong Gia Binh.