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FPT Corporation eyes $1 billion sales in 2008
Vietnam’s FPT Corporation reported a 12 percent profit rise for the first nine months of 2008 and said a jump in revenues put it on track for record full-year sales of US$1 billion.
The Hanoi-based group said net earnings in the nine months to September rose 12.1 percent from a year ago to VND508 billion ($31 million) and earnings per share averaged VND5,457 (33 cents). Sales increased 37 percent to VND12.5 trillion ($754 million), the company said, without giving comparable figures.
FPT’s main money spinners are computers and telephone handsets, which make up more than 70 percent of sales.
"With booming sales in the first three quarters of 2008, the group has been able to maintain the pace of growth with a prospect to achieve $1 billion in sales by the end of this year," FPT said in a statement.
It also said it had set up two software development subsidiaries FPT USA Corp. in San Mateo, California, and FPT Australia Ltd. in Sydney to expand its software outsourcing business. The two units are expected to bring in $13 million in sales next year.
FPT shares Tuesday advanced for the first time since October 2 on the Ho Chi Minh City Stock Exchange. The stock rose VND3,000, or 4.4 percent, to VND71,500. FPT has lost almost 68 percent this year, compared with a 58 percent decline in the benchmark VN-Index.
Thanhnien
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