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After social distancing, the revenue of PNJ increased by 22% in May

After social distancing, the revenue of PNJ increased by 22% in May

Thursday 25, 06 2020
After the major loss of 89 billion VND in April due to COVID-19, the business activities of PNJ are gradually recovering following the “social distancing” period.

PNJ has just published its business results in May with a net sale estimated to be 1,019 billion VND, increasing by 20%, and a profit-after-tax of 47 billion VND, rising by 22% compared to the same period last year.
Accordingly, after the major loss of 89 billion VND in April due to COVID-19, the business activities of PNJ are gradually recovering following the “social distancing” period.

The profit increase:

After social distancing, the revenue of PNJ increased by 22% in May

After the first 5 months of the year, the PNJ revenue has reached 6.521 billion VND, decreasing by 1% and its profit-after-tax has reached 364 billion VND, which is 30% lower than the same period last year, fulfilling 45% of the revenue plan and 44% of the profit plan of 2020. 

After the social distancing period, the retail channels’ revenue of May increased by 20% over the same period in 2019. The revenue coming from gold plates increased by 42% over the same period in 2019 and that from the retail channels rose by 18%. 

The combined profit in May of PNJ reached 193 billion VND, rising by 2% over the same period last year. However, the accumulated profit in the first 5 months of the year dropped by 13%. 
In May, PNJ opened 4 and renovated 2 PNJ Gold Stores, while closing 5 stores (including 4 Gold ones and 1 Silver one). Moreover, the company also established 11 new shop-in-shop watch stores, raising the total number of currently available stores to 394 (including watch shops). 

>> 
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Source: https://cafef.vn

 
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Business

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