A PNJ store in HCM City. — Photo courtesy of PNJ

Phu Nhuan Jewelry Joint Stock Company reported profit after tax of VND55.4 billion (US$2.38 million) in July, VND1.2 billion ($51,546) up year-on-year, on revenues of VND1.307 trillion ($44.6 million), up 10 per cent.

The retail segment remained the growth driver, accounting for 55.26 per cent of revenues. Revenues from the gold bullion segment increased to 27.44 per cent from 19.02 per cent a year ago as people looked for safe haven investments.

Year-to-date revenues topped VND9.053 trillion ($389.5 million), VND118 billion up year-on-year.

The gross profit margin remained unchanged at 19.4 per cent.

The company said it has kept a close eye on the Covid-19 situation and ensured the safety of its customers, staff and partners and smooth operations.

The growth numbers since May indicate that the company is gradually adapting to the "new normal" caused by the outbreak.

Hanoi Investments Holdings Limited recently bought nearly 2.2 million shares of the company to increase its holdings to 2.5 million shares. Funds managed by Dragon Capital now own 20.8 million shares, equivalent to over 9.27 per cent.

Vina Capital funds own more than 18.1 million shares, or an 8.06 per cent stake. — VNS