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FPT target 13.1% increase in profit 2017

31/03/2017

March 31, 2017 - FPT 2017 Annual Shareholders Meeting has approved the business plan for 2017. Specifically, it targets 15% increase in revenue, 13.1% increase in profit before tax, equivalent to VND46,619 billion and VND3,408 billion.

Technology - Telecommunications will continue to be the cornerstone of growth. They are expected to make up over 85% of FPT's total profit. The business domain of technology and telecom targets VND 1,359 billion and VND 1,210 billion in profit, accounting for 40% and 35.5% of the total profit.

Globalization will continue to be the driving force for FPT's growth in the future, with its expected profit growth of 30% in 2017. In 2016, FPT saw an increase of 40% in overseas revenue, making up 1/3 of the total profit and higher than profit growth of domestic market.

This meeting decided the dividend payout ratio of 35% for 2016 (20% in cash and 15% in the form of shares).

FPT Chairman Truong Gia Binh believes that "one day the world will know a digital company named FPT"

Specifically, 10% advance payment of cash dividend was made in 2016. The remaining 10% cash dividend is expected to be paid in the second quarter of 2017. In addition, the 15% stock dividend will also be paid in the second quarter of 2017. For 2017, the AGM also decided to pay a 20% dividend in cash (2,000VND/share).

The shareholders elected the Board of Directors and Board of Supervisors (BOS) for the term of 2017-2022. Accordingly, the Board of Directors of FPT includes 7 members. 3 out of 7 members are independent members and foreigners. Mr. Truong Gia Binh was elected Chairman of the Board of Directors.

The reports of the Board of Directors, the Supervisory Board, the operating budget and remuneration of the Board of Directors,  the Supervisory Board in 2017, the list of independent audit firms to implement audition for financial statement in 2017, Employee stock ownership plan (ESOP) for 2017-2019 were approved at the meeting.

By the end of 2016, FPT earned VND40,545 billion in revenue, up 1.4% yoy. Profit before tax grew by 6% yoy to VND3,014 billion. Technology and Telecommunication made the largest contribution to the total profit (76%). In FY2016, FPT eyed VND6,121 billion in revenue, an increase of 26% yoy and VND936 billion in profit before tax, up 40% yoy.