On December 20, FPT Joint Stock Company has completed slashing its ownership of FPT Retail and FPT Trading to less than 50%. This means that the two companies are no longer subsidiaries but associates of FPT.
Pursuant to Resolution on August 1 and Resolution on September 11, FPT has completed its reduction of ownership in FPT Retail and FPT Trading down to 50%. Specifically, FPT’s equity in FPT Retail is 47% and in FPT Trading is 48%. According to the previous report of BVSC, the partners who bought FPT’s stake in FPT Trading was Synnex Group. In this deal, Synnex paid FPT VND 932 billion, including a share in FPT Trading and an amount of retained profit of FPT Trading for Synnex, which makes the equity for Synnex after distribution be 47%. For the retail sector, FPT also sold a 30% equity in FPT Retail to Vina Capital and Dragon Capital with the valuation mounting up to USD 130 million, equivalent to VND 2,951 billion.
For the first 10 months of the year, FPT’s consolidated revenue reached VND 34,966 billion, up 10% compared to the same period last year. Gross profit was VND 2,645 billion, up 14% to the same period. Net profit reached VND 2,226 billion, up 11% over the same period.
The business results of the first 10 months of 2017 show that revenue and profit are growing at double-digit rates. FPT’s consolidated revenue reached VND 34,966 billion, up 10% compared to the same period last year. Gross profit was VND 2,645 billion, up 14% to the same period. Net profit reached VND 2,226 billion, up 11% over the same period. Profit after tax of its parent company was VND 1,725 billion, up 13% to the same period. Earnings per share (EPS) after 10 months increased 12% compared to the same period last year, reaching VND 3,225.
The two core business areas which are Technology and Telecommunications continue to contribute significantly to FPT’s profit growth over the past 10 months. Profits from these two segments accounted for up to 72% of total profits of the group. Specifically, pre-tax profit of the technology and telecom sectors increased by 12% and 8% respectively compared to the same period last year.
Meanwhile, in foreign markets, FPT also showed a solid growth. Accordingly, for the first 10 months of this year, FPT recorded a revenue of VND 5,473 billion, pre-tax profit is 850 billion dong, up 16 percent and 19 percent year-on-year, accounting for one-third of the group’s profit.
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