Telecom operator Viet Nam Posts and Telecommunications Group (VNPT) reached a consolidated profit of VNĐ5.01 trillion (US$220 million), a year-on-year increase of 21 per cent.

To date, VNPT has become a strategic partner in telecommunications and IT with 52 over 63 cities and provinces. — Photo tapchitaichinh.vn

This is the fourth consecutive year that VNPT has achieved a profit growth of more than 20 per cent.

This was revealed at a conference, which was held in Hà Nội on Tuesday in order to deploy tasks for the year 2018.

Specifically, the group’s total revenue reached nearly VNĐ144.75 trillion, up 7 per cent against 2016. The State budget contribution was nearly VNĐ4.12 trillion, an increase of 9.3 per cent compared to the previous year. The return on equity hit 8.2 per cent, surpassing 5.1 per cent compared to the targeted plan.

The total subscribers of VNPT reached over 34 million subscribers, of which, 31.1 million are mobile subscribers, up 21 per cent from 2016, including 4.1 million FiberVNN subscribers, up 52 per cent compared with 2016.

In 2017, VNPT had completed broadcasting over 20,000 mobile stations (2G, 3G, 4G) nationwide, bringing the total number of stations to approximately 75,000.

VNPT has also operated the AAE1 broadband cable since October 2017. The total international internet bandwidth increased by 83 per cent, compared to 2016, and the total caching capacity of VNPT increased by 2.1 times, compared to 2016.

Having considered information technology to be a key business segment in the period between 2016 and 2020, VNPT has a strong investment strategy for this field and has achieved positive results in 2017.

To date, VNPT has become a strategic partner in telecommunications and IT with 52 over 63 cities and provinces. In 2017, the group approached, introduced and deployed the intelligent city model in 17 provinces and cities nationwide.

In 2018, VNPT will focus on the development of breakthrough IT services in the business, moving from the concept of Telco to DSP service provider. It will switch to digital services, value-added services, information technology, communications and information technology.

Pham Duc Long, VNPT’s general director, said the group will strive to achieve a rise of 10 per cent profit growth over 2017 in 2018 and a revenue growth rate of 6.5 per cent to 8 per cent, compared to 2017. The return on equity is expected to increase 10 per cent compared to 2017, and the group will try to fulfil the State budget contribution in 2018. — VNS