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PNJ profit up 31.6 per cent in October

VIETNAM, November 26 - HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) reported net revenue of over VNĐ3 trillion (US$123.1 million) and after-tax profit of VNĐ193 billion ($7.9 million) in October, a year-on-year increase of 1.6 per cent and 31.6 per cent, respectively.

Over the first 10 months of the year, it achieved net revenue of nearly VNĐ26.4 trillion ($1.08 billion) and after-tax profit of VNĐ1.53 trillion ($62.8 million), achieving 79.1 per cent of its full-year profit target.

A company representative said its sales of 24k gold in the first 10 months increased by 7.9 per cent from a year earlier.

But its retail and wholesale revenues decreased by 9.4 per cent and 32 per cent over the same period last year.

Average gross profit margin reached 18.5 per cent compared to 17.4 per cent in the same period last year.

By the end of October, PNJ had 394 stores across the country.

The Vietnam Institute of Directors has recently honoured PNJ’s Board of Directors with two titles, the Board of the Year and the Board of Directors with High Diversity.

PNJ has been also awarded the certificate of Saigon Times CSR 2023 for Community-Oriented Business by the Saigon Times magazine.— VNS