PNJ sees profit soar 95 per cent
PNJ sees profit soar 95 per cent
Phu Nhuan Jewellery Joint Stock Company (PNJ) reported a net sale of VND1.85 trillion (US$79.7 million) and VND85 billion in net profit in April, up 269 per cent and 183 per cent, respectively, from the last same period last year. 
According to the firm, retail revenue contributed 61.5 per cent of the sales. At the same time, revenue from the wholesale channel marked a recovery, increasing by nearly 383 per cent over the same period.
In April, PNJ opened three new stores, increasing its retail network to 340 stores across the country.
Together with the Q1 results, PNJ hit a net sale value of more than VND9 trillion and a net profit of VND598 billion, up 64.1 per cent and 95.3 per cent respectively over the same period last year. The firm has achieved more than 48.6 per cent of the net profit target for the year.
According to the firm, it will bring Pandora jewellery into the distribution system to exploit new customer segments and increase sales in the future.
