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FPT - Trending in the right direction - Earnings Flash

FPT announced preliminary 9M 2017 NPAT-MI of VND1.5 trillion (USD66 million, +13% YoY). Software Outsourcing continued to spearhead all businesses with 25% PBT growth. Telecom also delivered a robust performance and would have shown margin expansion if not for the new provisions for the government-imposed Vietnam Public Utility Telecommunication Service Fund (VTF). The YoY growth in Trading PBT accelerated as expected, while Retail remained strong.