PNJ revenue up 18.8 per cent in January

Sunday, Feb 26, 2023 11:04

Customers purchase jewellery at a PNJ store in HCM City. PNJ’s net revenue and profit after tax rose by 18.8 per cent and 11.8 per cent in January. — Photo courtesy of PNJ

Phu Nhuan Jewelry Joint Stock Company (PNJ) achieved VND 4.1 trillion (US$172.4 million) in net revenue and VND302 billion ($12.7 million) in profit after tax in January, year-on-year increases of 18.8 per cent and 11.8 per cent, respectively.

The good performance resulted from a surge in sales, especially 24k gold, in January due to higher demand of customers on God of Wealth Day.

The gross profit margin in the month was at 18.2 per cent compared to 18.7 per cent in the same period last year.

Operating expenses increased by 21 per cent over the same period last year, and the ratio of operating expenses to gross profit increased to 47.5 per cent from 45.5 per cent in January last year due to high expenses during the Lunar New Year and the impact of inflation.

As of the end of January, PNJ has 365 stores in 55 out of the country’s 63 provinces and cities.

PNJ last month was honoured to receive the HCM City Golden Brand award from the city People’s Committee.

It also won the title ‘Pioneer Enterprise for the Community’ for its zero-dong Tet mini supermarket programme, which has helped more than 20,000 disadvantaged households across the country with a total cost of up to VND9.5 billion ($399,429). — VNS

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