PNJ targets record revenue, profit growth in 2026

PNJ targets record revenue, profit growth in 2026

Phú Nhuận Jewelry Joint Stock Company (PNJ) has set ambitious targets for 2026, aiming for revenue of more than VNĐ48.6 trillion (US$1.8 billion) and post-tax profit of VNĐ3.4 trillion ($129.1 million).

Cao Thị Ngọc Dung, PNJ’s chairwoman, speaks at its annual general meeting of shareholders in HCM City on Wednesday. — Photo courtesy of the firm

Phú Nhuận Jewelry Joint Stock Company (PNJ) has set ambitious targets for 2026, aiming for revenue of more than VNĐ48.6 trillion (US$1.8 billion) and post-tax profit of VNĐ3.4 trillion ($129.1 million), up 37 per cent and 21 per cent year-on-year, respectively. 

If achieved, these would mark the highest results in its nearly four decades of operation.

The targets and key strategic plans were approved at the company’s annual general meeting held in HCM City on April 22.

Despite a challenging market environment last year, as surging gold prices dampened demand while raw material shortages and intensifying competition in the luxury retail segment added pressure, PNJ delivered strong results. 

Net revenue reached VNĐ35.4 trillion ($1.3 billion), exceeding the target by 12 per cent, while post-tax profit rose to VNĐ2.8 trillion ($106.4 million), up 33.9 per cent and surpassing the plan by more than 44 per cent.

The company attributed the performance to timely strategic adjustments, including aligning its business approach with market fluctuations, optimising costs, expanding its store network, improving operational efficiency and launching new collections tailored to diverse customer segments. Enhanced marketing and customer care also contributed to the results.

“These results are not only a milestone in business performance but also reflect the strength and resilience of an organisation capable of renewing itself from within,” said chairwoman Cao Thị Ngọc Dung.

Alongside financial gains, PNJ continued to strengthen its brand position. Its brand value rose 9 per cent to $523 million, placing it among the top 10 strongest Vietnamese brands, according to Brand Finance, while also earning recognition in regional rankings and industry awards.

Despite ongoing macroeconomic uncertainties, PNJ remains confident about sustaining growth this year. The company plans to pay a 20 per cent cash dividend, supported by stable cash flow and solid business performance.

Dung said the board will focus on refining growth strategies, strengthening corporate culture, enhancing oversight and improving governance efficiency to boost enterprise value and ensure sustainable development.

As part of a planned leadership transition, Phan Quốc Công assumed the role of chief executive officer on April 3, 2026, succeeding Lê Trí Thông. 

Looking ahead, the company will continue expanding its retail network, strengthening product design and supply chain capabilities and adopting more flexible procurement strategies to secure raw materials. It is also developing a broader lifestyle ecosystem and exploring new business areas, including financial services.

PNJ reported robust results for the first quarter of 2026, with revenue rising 79 per cent year-on-year to VNĐ17.2 trillion and post-tax profit increasing 116.5 per cent to around VNĐ1.5 trillion. 

Bizhub