After social gap, PNJ’s profit in May increased by 22% to 47 billion dong. The accumulated profit in 5 months still dropped by 30% to 364 billion dong.
Phu Nhuan Jewelry (HoSE: PNJ) announced that net revenue in May reached 1,019 billion dong, up 20% YoY and doubled compared to April. Profit after tax earned 47 billion dong, up 22%.
The company said that after the social gap, retail channel revenue increased by 20% compared to the same period in 2019 and contributed 57.5% of total revenue. Gold channel also recorded an increase of 42% and wholesale channel increased by 18%.
PNJ has a profit of 47 billion dong after social gap.
Previously, PNJ faced many difficulties in social isolation and suffered a loss of 89 billion dong in April. Therefore, in the first 5 months, revenue dropped slightly by 1% to 6.521 billion dong and profit dropped by 30%. VND 364 billion. Accordingly, the company has completed 45% of the revenue plan and 44% of the profit target for the year.
In 2020, the gold and silver trading company aims to reduce sales by 15% to 14,486 billion dong and profit by 30% to 832 billion dong and 38% lower than the original plan, facing the possibility of chain breakage profit growth from 2015 to the present.
As of the end of May, PNJ has a total of 394 stores in presence, including 44 PNJ Watch watch stores. The increase was due to the company opening and upgrading 2 jewelry stores while closing 10 other stores. In addition, PNJ Watch also opened 19 more stores.
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