The recently released report shows promising financial results for the first seven months of 2024, with both revenue and profits increasing. Specifically, after seven months, revenue and post-tax profits reached VND 24,621 billion (up 30.8% compared to the same period) and VND 1,218 billion (up 4% compared to the same period), respectively. This means that PNJ has completed 66.3% of its full-year 2024 revenue plan.
PNJ Business Report
PNJ’s business activities grew steadily across all channels. Retail jewelry revenue for the first seven months of 2024 increased by 14.6% year-on-year due to the diversification of new collections that cater to market trends and meet the diverse needs of customers. Creative marketing campaigns and attractive promotions have also played a significant role in boosting sales and enhancing brand loyalty. Wholesale jewelry revenue for the same period increased by 24.7% year-on-year, attributed to the expansion of the customer network.
PNJ’s gross profit margin slightly decreased to 16.4% (down from 18.7% in the same period last year) due to changes in the revenue structure of each business segment. In addition to maintaining stable profit margins in the retail and wholesale channels, PNJ continues to optimize resources and enhance operational capabilities to sustain a positive gross profit margin.
Furthermore, in July 2024, PNJ launched several initiatives to boost sales and enhance brand awareness, including re-promoting the Trầu Cau PNJ collection to anticipate the upcoming wedding season and introducing a sales promotion campaign with the message, “Làm đẹp thông minh – Cùng ngàn ưu đãi” (“Smart Beauty – Thousands of Privileges”).
Additionally, the company was proud to receive the international “Best Retail Marketing” award for the third time at the Marketing Events Awards 2024 in the Asia-Pacific region for its “Journey of Vietnamese Jewelry 2023” campaign. PNJ also excelled in the E (Environment), S (Social), and G (Governance) categories at the TOP50 CSA 2024 Sustainable Development Awards, announced by Nhịp Cầu Đầu Tư newspaper.
Ms. Tran Phuong Ngoc Thao, Vice Chairman of the Board of Directors and Chairman of the PNJ ESG Committee, receiving the award on behalf of the company
As of the end of July 2024, PNJ had 409 stores nationwide, including 400 PNJ stores, 5 Style by PNJ stores, 3 CAO Fine Jewellery stores, and 1 wholesale business center.
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