PNJ recorded net revenue of VND3,008 billion and after-tax profit of about VND193 billion in October.
According to the business representative, October marked many positive changes and entered the peak of the year-end, with a series of sales promotion activities. PNJ recorded net revenue of VND 3,008 billion (up 1.6% over the same period), after-tax profit of VND 193 billion (up 31.6% compared to 2022).
Cumulatively, in the first 10 months of the year, net revenue reached VND26,384 billion, after-tax profit was VND1,533 billion (up 3.1% over the same period). Currently, the company has completed 79.1% of the 2023 profit plan. "This is the sweet fruit of the process of continuously pressing the F5 button (refresh), choosing the right strategy, optimizing operations to maintain the position of the number one jewelry retail company in the country", said a PNJ representative.
Customers experience at PNJ store. Photo: Hoang Quyen
Specifically, 24K gold revenue in the first 10 months of the year increased by 7.9% over the same period. The retail segment continuously increased the number of new customers, the number of returning customers was within the company's expectations.
"Our retail revenue decline over the past 10 months was lower than the general market (down slightly by 9.4%). Total wholesale jewelry revenue decreased by 32% compared to the same period," said a representative of the unit.
At the same time, PNJ's average profit margin reached 18.5% (higher than 17.4% in October 2022). The company is focusing on optimizing gross profit margin while still ensuring value for consumers. Total operating expenses in the first 10 months of the year decreased by 1.1% compared to the same period.
By the end of October, the PNJ system had 394 independent stores including 382 PNJ Gold, three CAO Fine Jewellery, five Style by PNJ branches, one PNJ Watch and three PNJ Art.
Recently, the unit was awarded two titles by VIOD: Board of Directors of the Year 2022 (thanks to progress, effective management, significant contribution to the success of the business) and Board of Directors with high diversity (in terms of efficiency, gender balance, generation, skills...).
PNJ representative at the "Enterprise for the Community" award ceremony at Saigon Times CSR 2023. Photo: Bich Tuyen
In addition, PNJ was also named in the "Enterprise for the Community" category at the Saigon Times CSR 2023 ceremony. The unit is implementing a series of marketing programs to anticipate year-end shopping needs, contributing to increasing sales in the context of a slowing retail market.
Van Phat
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