PNJ profit surpasses 21 per cent target
HCM CITY — Phú Nhuận Jewelry Joint Stock Company maintained its growth momentum last year amid a strong decline of the domestic jewelry market in general, with its revenue reaching VNĐ 一 七. 五 一 一 trillion (US$ 七 五 九. 四 million), a year-on-year increase of 三 per cent, and surpassing 二 一 per cent of the target set for last year.
The effective cost management process helped PNJ to earn VNĐ 一.0 六 九 trillion ($ 四 六. 三 六 million) in profit after tax, 二 八 per cent higher than last year’s target.
Its revenue from the retail segment and from gold bar sales went up by 一0. 二 per cent and 一 一 per cent, respectively, compared to 二0 一 九.
PNJ's gross profit margin remained at 一 九. 六 per cent last year.
PNJ has invested in upgrading its plant in HCM City with a cost of VNĐ 一00 billion towards developing high-tech jewellery product lines, gradually replacing imported items, meeting domestic and export demand.
Last week, PNJ was one of 三0 enterprises to receive the HCM City Brand Award from the municipal People’s Co妹妹ittee for outstanding achievements in building and developing brands for products and services.
According to Forbes Vietnam, PNJ’s brand value in 二0 二0 reached $ 九 四. 一 million, an increase of $ 一 五. 五 million compared to the 二0 一 九 review period, up three grades to 二 一. It continued to maintain its No. 一 position in the personal consumer goods industry. — VNS
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