PNJ revenue reaches $1.38 billion in first 11 months

December 30, 2024 - 16:57

PNJ reported net revenue of VNĐ35.2 trillion (US$1.38 billion) and after-tax profit of nearly VNĐ1.9 trillion ($74.6 million) for the first 11 months of 2024, year-on-year increases of 19.4 per cent and 8.3 per cent.

Customers shop in a PNJ store in HCM City. — Photo courtesy of the company

HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) reported net revenue of VNĐ35.2 trillion (US$1.38 billion) and after-tax profit of nearly VNĐ1.9 trillion ($74.6 million) for the first 11 months of 2024, up 19.4 per cent and 8.3 per cent year-on-year, respectively.

PNJ's latest financial report showed strong growth in November, with revenue of VNĐ2.8 trillion and after-tax profit of VNĐ276 billion, despite major fluctuations in the jewellery market.

PNJ saw consistent growth across all business channels over the first 11 months, with retail and wholesale revenues going up by 15.9 per cent and 33.8 per cent over the same period last year, respectively.

The average gross profit margin fell slightly to 17.2 per cent from 18.3 per cent in 2023. However, it stayed positive due to efforts like stabilising margins in retail and wholesale, improving production efficiency, and optimising product design and sales policies to meet market changes.

As of the end of November, PNJ operates 424 stores nationwide, including 415 PNJ stores, five Style by PNJ stores, three CAO Fine Jewellery stores, and one wholesale business centre. — VNS

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