AsemconnectVietnam - Phu Nhuan Jewelry Joint Stock Company (PNJ) has just announced its accumulated business results for the first 11 months of 2024 with net revenue reaching VND35,210 billion and profit after tax reaching VND1,876 billion.

According to the latest business report, PNJ continued to record impressive growth in November 2024 with revenue reaching VND2,839 billion and profit after tax reaching VND276 billion. This is a positive result, especially when looking at the context of the jewelry consumption market with strong fluctuations in 2024.
Accordingly, in the first 11 months of 2024, net revenue reached VND35,210 billion and profit after tax reached VND1,876 billion, up 19.4% and 8.3% respectively over the same period. With this positive result, PNJ has achieved nearly 90% of the annual profit plan.
PNJ's business performance in the past 11 months has grown steadily across all channels. Retail jewelry revenue increased by 15.9% year-on-year; wholesale jewelry revenue increased by 33.8% year-on-year.
On the other hand, the average gross profit margin in the first 11 months of 2024 reached 17.2%, down from 18.3% in the same period of 2023. This is a positive profit margin and is the result of many solutions, including: (i) Maintaining stable profit margins from retail and wholesale channels; (ii) Improving production capacity and optimizing product design and sales policies to meet changing market needs.
As of the end of November 2024, PNJ owns 424 stores nationwide. Including 415 PNJ stores, 5 Style by PNJ stores, 3 CAO Fine Jewellery stores and 1 wholesale center.
N.Nga
Source: VITIC/Tinnhanhchungkhoan