FPT Telecom (FOX): Dividend payment for 2017 is 80% in total; and the 2018 pre-tax profit target is set of VND 1,394 billion.

In 2017, after-tax profit of FPT Telecom reached VND 975 billion which was 0.2% lower than 2016.

On March 28, FPT Telecom Joint Stock Company (stock code FOX) will hold the 2018 annual shareholder meeting to listen to the 2017 business result report and to approve the documents submitted.
 
Dividend payment for 2017 is 80% in total
 
According to the report, 2017 is considered the first year when FPT Telecom plans to move from a service provider to an experience provider. Total revenue in 2017 reached VND 7,651 billion, fulfilling 98.8% of the yearly plan.
 
Pre-tax profit reached VND 1,217 billion, 0.6% higher than the yearly profit target assigned by the AGM. After-tax profit reached VND 975 billion, 0.2% lower than 2016, of which the profit attributable to shareholders of parent company was VND 873 billion.
 

Unit: VND billion
 

 
With the results achieved, the company submitted to the AGM to approve the 2017 dividend of 30% in cash and 50% in shares.
 
For cash dividends, the company has conducted a 2-time advance payment to shareholders, the first time of 10% in October 2017 and the second time of 20% in December 2017.
 
For 50% of dividends in shares, shareholders with every 2 shares are entitled to receive 1 new share. Capital from profits will be taken for existing shareholders right in 2018.
 
Business plan for 2018
 
In 2018, FPT Telecom set a revenue target of VND 8670 billion, increasing by 13.3% compared to the revenue achieved in 2017; Pre-tax profit estimated is VND 1,394 billion, increasing by 14.6% compared to the profit achieved in 2017. The proposed dividend payment should not be lower than VND 2,000 per share.
 
The company also submitted to the AGM the member lists for Board of Directors as well as Board of Supervisors for 2018-23 term.