FPT targets 20.4pct growth in 2011

Ending 2010, the information and technology firm, FPT, gained 22.4 trillion dong in revenue, growing 9 percent year-on-year, and 2.12 trillion dong of profit, rising 20 percent y-o-y.

In 2011, FPT targets to gain 20.4 percent revenue growth and 24.7 percent profit growth.

FPT’s revenue was at low growth due to impacts from macro economy and strong changes from the market such as fluctuation of dong/US dollar FX rate.

At the press conference to announced the company’s business results in Q3, FPT’s leader confirmed that the fluctuation of dong/US dollar FX rate caused a damage of about 15 billion dong for the group.

However, in 2011, FPT is pretty confident with the growth targets of 20.4 percent in revenue and 24.7 percent in profit against 2010′s.

Of which, its offshoots also set high growth targets in 2011 of about 26-45 percent and 25-30 percent y-o-y.

For example, FPT Information System Joint Stock Co (FIS) targets year-on-year revenue and profit growth at 30 percent.

Notably, apart from traditional business fields, in 2011, FIS would also care about the Public-Private Partnership (PPP) model.

Meanwhile, FPT Telecom expects to gain revenue growth at 33 percent and profit growth at 20 percent against 2010.

FPT Telecom also plans to develop about 168 percent of new subscribers versus 2010. Currently, FPT Telecom has opened 36 branches in provinces and cities nationwide with over 450,000 subscribers.

In 2010, along with receiving licence for trial LTE technology (4G technology), FPT Telecom in collaboration its FPT holding company purchased 60 percent stake into EVNTelecom to officially join the mobile telecommunication sector.

FPT Software is also confident with revenue growth of 40 percent and profit growth at 30 percent in 2011. In 2010, FPT Software’s revenue was estimated to growth 34 percent and profit growth at 19 percent.

According to leader of FPT, in coming time, FPT Software will make some merger and acquisition (M&A) deals in foreign markets with total value of not lower than $10 million.

Additionally, together with high growth targets in 2011, FPT also purposes to access Forbes 500 in 2011-2025 period.

Accordingly, by 2014, FPT would become Vietnam’s leading global company with profit of about 10 trillion dong and become 500 Forbes company by 2025. FPT’s revenue from software services would be $500 million by 2015 and exceed the threshold $1 billion by 2020. – Vietbiz24

Tags: FPT