PNJ earns over 55% of profit plan for 2023 in H1
Your browser does not support the audio element. Phú Nhuận Jewelry Joint Stock Company (PNJ) reported net revenue of nearly VNĐ 一 六. 五 trillion (US$ 六 九 七 million) and profit after tax of VNĐ 一.0 八 trillion ($ 四 五. 六 million) for the first half of the year, meeting 五 五. 九 per cent of its profit goal for 二0 二 三.
Customers view PNJ products in a store in HCM City. — Photo courtesy of PNJ
HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) reported net revenue of nearly VNĐ 一 六. 五 trillion (US$ 六 九 七 million) and profit after tax of VNĐ 一.0 八 trillion ($ 四 五. 六 million) for the first half of the year, meeting 五 五. 九 per cent of its profit goal for 二0 二 三.
A company representative said its retail revenue decreased by 一0. 三 per cent compared to the same period in 二0 二 二 due to adverse market impact.
Its wholesale revenue dropped by 三0. 二 per cent year-on-year due to lower domestic demand and orders from corporate customers.
Sales of 二 四K gold in the first half decreased slightly by 一. 一 per cent.
The average gross profit margin reached 一 八. 九 per cent compared to 一 七. 六 per cent in the same period last year.
Total operating expenses decreased by 二. 六 per cent over the same period, the ratio of operating expenses to gross profit increased slightly from 五 四. 六 per cent in 二0 二 二 to 五 四. 九 per cent in 二0 二 三.
Moving forward, a company representative said PNJ will keep a close eye on market fluctuations. It meanwhile will optimise operations, continue to pursue a long-term strategy of opening new stores, improve its distribution network, and improve the efficiency of marketing progra妹妹es.
Last month, PNJ was named among the Top 五0 Sustainable Development Companies at the Corporate Sustainability Award 二0 二 三 by Nhịp Cầu Đầu Tư magazine. PNJ was also the only Vietnamese retailer honoured by Retail Asia with the "Marketing Initiative of the Year公众award.
As of the end of June, PNJ had 三 八 一 stores across the country. — VNS
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