In Q4/2021, FIT’s after-tax profit is VND 37.6 billion, an increase of 64.3% over the same period.
F.I.T Group Joint Stock Company (Code: FIT) has announced the Q4/2021 financial statements and accumulation for the whole year 2021.
Specifically, in Q4, net revenue is VND 327 billion, decreasing slightly by 2.5% over the same period. Thanks to a sharp decrease in cost price, FIT gross profit is more than VND 91 billion, a increase of 20.5% compared to Q4 last year.
During the period, financial revenue increases sharply from VND 34.4 billion to VND 60.6 billion, while financial costs increase by nearly 21% to VND 16.3 billion. Business management expenses increase sharply from VND 26.9 billion to more than VND 46 billion, and selling expenses also increase by 38.5%.
As a result, FIT’s after-tax profit is VND 37.6 billion, increasing by 64.3% over the same period, and the parent company’s after-tax profit is VND 28.8 billion, equivalent to EPS of VND 113.
FIT said the increase in Q4 profit is due to parent company TSC having an increase in profit of VND 52.7 billion. Operating results of consolidated subsidiaries TSC and consolidated DCL increase by 4.7 billion and 0.2 billion, respectively. Subsidiaries and affiliated companies’ after-tax profit decreases by VND12.4 billion.
For the whole year of 2021, net revenue is nearly VND 1,221 billion, a increase of 2.8% over the same period. Thanks to highly-increasing financial activities in Q2, after-tax profit is VND 231.5 billion, 2.8 times higher than the same period. The parent company’s after-tax profit is VND 158 billion, equivalent to EPS of VND 620.
In 2021, FIT sets a revenue target of VND 1,331 billion and after-tax profit of VND 176.2 billion. Accordingly, by the end of 2021 FIT has only completed 93% of the revenue target but has exceeded 31% of the after-tax profit target.
