FPT profit rises 20 percent on software, services

FPT Corporation, the biggest software maker and mobile-phone distributor on Vietnam’s benchmark stock exchange, said net profit rose 20% last year, buoyed by increases in earnings from software and services.

Net profit rose to VND1.06 trillion (US$60.6 million), according to an e-mailed statement from the company, known as FTP.

Earnings from software and telephone and computer services accounted for 63.4% of the total income, FPT said. The ration was 48% in 2007.

Hanoi-based FPT, partly owned by Deutsche Bank AG, projected a 10% growth for sales and profit in 2009 by developing its traditional businesses, the statement said.

FPT’s revenues were VND16.8 trillion ($961 million), a 21% increase from 2007, according to the release. The company earned VND687 billion ($39.3 million) from software exports. (Bloomberg)