A PNJ store in HCM City. PNJ sales, profits skyrocket in the first five months of the year. — Photo courtesy of the company

Phu Nhuan Jewellery Joint Stock Company (PNJ) reported profit after tax of VND685 billion (US$29.85 million) on revenues of VND10.63 trillion ($461.75 million) in the first five months of the year, year-on-year increases of 90.6 per cent and 62.9 per cent.

In May they increased by well over half to VND85 billion ($3.67 million) and VND1.59 trillion ($69.2 million).

Gold bullion sales went up by more than 196 per cent in May and accounted for 26.6 per cent of the company’s revenues in the first five months.

In May PNJ opened three new stores and launched the Pandora international brand under the shop-in-shop model to exploit new customer segments with moderately priced product lines.

It has a network of 343 stores across the country.

The company in the first five months of the year also contributed to the fight against COVID-19 by donating VND2 billion to the Government vaccine fund and setting up free stores in Bac Ninh and Bac Giang from where people can get essential daily goods. — VNS