Tuesday, November 12 2019

VietNamNews

Phú Nhuận Jewellery sees profit up 17 per cent in Q3

Update: October, 18/2019 - 16:17

 

In the first nine months this year, PNJ saw a net revenue of VNĐ11.7 trillion dong, up by 11 per cent. Post-tax profit was VNĐ806 billion , up by 16 per cent year-on-year. -- Photo ndh.vn

HÀ NỘI — Phú Nhuận Jewellery Company (PNJ), the largest jewellery retailer in Việt Nam, recorded VNĐ208 billion in after-tax profit in the third quarter, up 17 per cent year-on-year.

The company reported net revenue of VNĐ3.9 trillion in the period, up 25 per cent against last year.

Financial expenses in the third quarter rose 78 per cent year-on-year, mainly due to increasing loan interest.

Selling expenses also climbed 27 per cent to VNĐ340.8 billion, administrative expenses rose 22 per cent to VNĐ113.7 billion.

PNJ attributed the surge in expenses to the company’s development strategy for the gold and watch retail systems.

In the first nine months this year, PNJ recorded net revenue of VNĐ11.7 trillion, up 11 per cent. Post-tax profit was VNĐ806 billion, up by 16 per cent year-on-year.

Earnings per share (EPS) in nine months reached VNĐ3,619.

PNJ has completed 68 per cent of the profit target for 2019.

At the end of the third quarter, total assets of PNJ reached VNĐ7.6 trillion, of which inventory value reached nearly VNĐ6 trillion, an increase of nearly VNĐ1 trillion compared to the beginning of the year. — VNS

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