PNJ reports profit of $83.7 million for 2024
PNJ reports profit of $83.7 million for 2024
Phú Nhuận Jewelry Joint Stock Company has announced its results for 2024, which include net revenues of VNĐ37.8 trillion (US$1.5 billion) and after-tax profit of VNĐ2.1 trillion ($83.7 million), up 14.1 per cent and 7.3 per cent and achieving its targets.
A PNJ store in HCM City. — Photo Việt Hùng. |
Jewellery sales accounted for 68.3 per cent of revenues (10 per cent of them from wholesale).
Retail sales were up 14.4 per cent, and wholesale sales increased by 34.6 per cent; sales of 24K gold grew by 11.5 per cent.
The average gross profit margin was 17.6 per cent, down from 18.3 per cent.
PNJ has 429 stores across the country.
In another development, on January 21 PNJ’s board of directors approved three resolutions related to personnel changes.
Trần Phương Ngọc Thảo has been appointed CEO of PNJ Jewelry Production and Trading Co., Ltd. (PNJP) for a three-year term starting on February 5.
She will replace Huỳnh Đức Huy, who will however remain in the member council.
The BOD also approved the appointment of Đặng Thị Lài as the company’s authorised representative and chairwoman of PNJ Laboratory to succeed Thảo for a five-year term starting on February 5.
Lài, a non-executive member of the BOD, has also been appointed to the company’s audit committee, effective from January 21.
