dads

PNJ profit surpasses 21 per cent target

Created 26 January 2021
  • PDF
Editor Choice
dads
Share
(0 votes, average 0 out of 5)

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 VNĐ17.511 trillion (US$759.4 million), a year-on-year increase of 3 per cent, and surpassing 21 per cent of the target set for last year.

Lê Trí Thông, PNJ CEO, on behalf of the company, receives an HCM City Brand Award from the municipal People’s Committee at a ceremony held in HCM City last week. The company reports good business results in 2020. — Photo courtesy of PNJ

HCM CITYPhú 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 VNĐ17.511 trillion (US$759.4 million), a year-on-year increase of 3 per cent, and surpassing 21 per cent of the target set for last year.

The effective cost management process helped PNJ to earn VNĐ1.069 trillion ($46.36 million) in profit after tax, 28 per cent higher than last year’s target.

Its revenue from the retail segment and from gold bar sales went up by 10.2 per cent and 11 per cent, respectively, compared to 2019.

PNJ's gross profit margin remained at 19.6 per cent last year.

PNJ has invested in upgrading its plant in HCM City with a cost of VNĐ100 billion towards developing high-tech jewellery product lines, gradually replacing imported items, meeting domestic and export demand.

Last week, PNJ was one of 30 enterprises to receive the HCM City Brand Award from the municipal People’s Committee for outstanding achievements in building and developing brands for products and services.

According to Forbes Vietnam, PNJ’s brand value in 2020 reached $94.1 million, an increase of $15.5 million compared to the 2019 review period, up three grades to 21. It continued to maintain its No. 1 position in the personal consumer goods industry. — VNS


Source: VNN

Maybe You Also Interesting :

» The story behind unleashing human resources at PNJ

Le Tri Thong, deputy director and CEO of PNJ, said the biggest change in PNJ’s human resources ever entailed the determination to “hit F5” and refresh,...

» 'Win feeds win' strategy speeds up PNJ’s digital transformation

Le Tri Thong, deputy director and CEO of PNJ, shared how the company has embraced a tech model amid the evolution of the retail industry, focusing on...

» In pandemic times, HCMC overachieves state budget collection target

In the first two months of 2021, the southern metropolis of HCMC earned VND2.9 trillion ($126.5 million) per day in budget collections.