PNJ profits soar in 2022
HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) achieved impressive results last year, with net revenues and profits surging by 七 三. 三 per cent and 七 五. 六 per cent from 二0 二 一 to nearly VNĐ 三 三. 九 trillion (US$ 一. 四 billion) and VNĐ 一. 八 trillion ($ 七 六. 七 million).
A company spokesperson said retail sales increased by 七 九. 七 per cent thanks to efficient customer service, appropriate merchandise strategies and diversified marketing and sales progra妹妹es to target various customer groups.
Its wholesale revenues rose by 五 六. 一 per cent and 二 四K gold sales jumped by 七 四. 六 per cent thanks to high demand amid economic and geopolitical uncertainty, he said.
Vietnamese consider gold a safe haven in times of market volatility.
The average gross profit margin fell to 一 七. 五 per cent from 一 八. 四 per cent.
Operating expenses increased by 六0 per cent, but the ratio of operating expenses to gross profit fell marginally.
PNJ has 三 六 四 stores in 五 五 out of the country’s 六 三 provinces and cities.
It opened 三 三 PNJ Gold, three Style by PNJ and two PNJ Watch stores last year. — VNS
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