FPT announces big revenue boost for year

Hanoi (VNA) - The Financing and Promoting Technology Corporation (FPT) on Oct. 13 announced total revenue of more than 12.4 trillion VND (754.5 million USD) for the first nine months of this year, a year-on-year increase of 36.7 percent, or 83.3 percent of the 2008 target.

Of the total, pre-tax profit hit over 843 billion VND (51 million USD),
increasing 27.9 percent against the same period last year. The third quarter
alone saw revenue of more than 3.7 trillion VND (228.6 million USD), a
year-on-year rise of 17.5 percent.

Speaking at a press conference on Oct. 13, the corporation deputy chief
executive officer, Bui Quang Ngoc said FPT planned to reach total revenue of
1 billion USD this year despite the spreading global financial crisis. "The
corporation plans to increase its charter capital by 50 percent by issuing
bonus shares for existing shareholders from the surplus capital with the
ratio 2:1."

FPT, formerly known as FPT Joint Stock Company, officially established two
software companies in the USA and Australia, named FPT USA Corp and FPT
Australia Ltd in order to promote its service providers and software's
processors in two potential markets. The planned revenue of both companies
next year will reach 13 million USD.

SBI Holdings (SBI) officially became a new shareholder of FPT Capital on
September 20 with 8.17 percent of stakes in the firm. SBI said it aims to
raise its shares to just under 49 percent under domestic law.-Enditem