FPT - All segments post strong double-digit growth

FPT released preliminary Q1 2022 results, including revenue of VND9.7tn (USD423mn; +28% YoY) and NPAT-MI of VND1.2tn (USD54mn; +24% YoY).These results fulfilled 22% and 23% of our respective forecasts and are broadly in line with our expectation of strong earnings growth for FPT that is backed by its core businesses: IT Services, Telecom Services and Education. Overall, we do not see major risks to our current forecasts, pending a fuller review.