FPT’s operation remains stable despite the impact of Covid-19
During the first 09 months of the year, revenue and profit before taxes (PBT) of FPT recorded VND 21,164 billion and VND 3,814 billion, up 8% and 9% YoY. Profit after taxes (PAT) and PAT attributable to shareholders rose by 8% and 7%. EPS reached VND 3,264, up 7% YoY.
Actively adapting to the new normal, FPT had three consecutive growing quarterly PBTs inspite of challenges posed by the pandemic. PBT of the third quarter is 21% higher than the that of the first quarter and 8% higher than that of the second quarter of 2020.
Furthermore, Technology sector (including Global IT Services and Domestic IT Services) and Education sector have received several positive catalysts for future growth.
Technology sector recorded increasing value of purchase orders
Global IT Services posted VND 8,779 billion in revenue and VND 1,418 billion in PBT, respectively up 12.6% and 13.8% YoY. In which, Japan and Asia Pacific (APAC) markets, which handled the pandemic well, still grew by 9% and 44%. Pioneering in new technology like Cloud, Internet of Things, and Low code platform, FPT recorded VND 2,473 billion in digital transformation revenue, up 41% YoY.
In the “new normal”, FPT has implemented several online sales initiatives, transforming how we approach and create prospective clients. Therefore, in the third quarter alone, the total value of purchase orders of Technology sector increased by 48% YoY. In particular, Global IT Services recorded VND 9,595 billion in terms of purchase orders, up 22% YoY. Furthermore, after the peak of COVID-19, Domestic IT Services started to pick up on signing new contracts with clients during the last few months.
These are the positivie signs that FPT has actively adapted to new situation and sidestepped the pandemic risks to seize opportunities for future growth.
Education sector increased the number of students significantly
Due to COVID-19, the admission process for 2020 – 2021 school year was started later than usual. In Septmber, the whole sector enrolled 14,614 sudents for college, international affiliate programs, and 1-to-12 program, up 59% YoY. At the end of September, total number of students reached 56,711.