Phú Nhuận Jewellery sees profit up 17 per cent in Q3

HÀ NỘI — Phú Nhuận Jewellery Company (PNJ), the largest jewellery retailer in Việt Nam, recorded VNĐ 二0 八 billion in after-tax profit in the third quarter, up  一 七 per cent year-on-year.

The company reported net revenue of VNĐ 三. 九 trillion in the period, up  二 五 per cent against last year.

Financial expenses in the third quarter rose  七 八 per cent year-on-year, mainly due to increasing loan interest.

Selling expenses also climbed  二 七 per cent to VNĐ 三 四0. 八 billion, administrative expenses rose  二 二 per cent to VNĐ 一 一 三. 七 billion.

PNJ attributed the surge in expenses to the company’s development strategy for the gold and watch retail systems.

In the first nine months this year, PNJ recorded net revenue of VNĐ 一 一. 七 trillion, up  一 一 per cent. Post-tax profit was VNĐ 八0 六 billion, up by  一 六 per cent year-on-year.

Earnings per share (EPS) in nine months reached VNĐ 三, 六 一 九.

PNJ has completed  六 八 per cent of the profit target for  二0 一 九.

At the end of the third quarter, total assets of PNJ reached VNĐ 七. 六 trillion, of which inventory value reached nearly VNĐ 六 trillion, an increase of nearly VNĐ 一 trillion compared to the beginning of the year. — VNS