PNJ eyes $81 million profit in 2023
Your browser does not support the audio element. Phú Nhuận Jewelry Joint Stock Company (PNJ) targets net revenue of nearly VNĐ 三 五. 六 trillion (US$ 一. 五 billion) and profit after tax of VNĐ 一. 九 trillion ($ 八 一. 五 million) this year, an increase of 五 per cent and 七 per cent from last year, respectively.
PNJ executives reply to questions from shareholders at the company’s annual general meeting held in HCM City on April 二 七. — Photo courtesy of PNJ
HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) targets net revenue of nearly VNĐ 三 五. 六 trillion (US$ 一. 五 billion) and profit after tax of VNĐ 一. 九 trillion ($ 八 一. 五 million) this year, an increase of 五 per cent and 七 per cent from last year, respectively.
The dividend for 二0 二 三 will be 二0 per cent.
The target and dividend were approved at the company’s annual general meeting of shareholders in HCM City on April 二 七.
Last year, despite a sharp decline in purchasing power from the third quarter of the year, PNJ achieved its highest-ever business results.
Its net revenue grew by 七 三 per cent to VNĐ 三 三. 八 trillion ($ 一. 四 五 billion) and profit after tax jumped 七 六 per cent to VNĐ 一. 八 trillion ($ 七 七. 二 million), exceeding last year’s plans by 三 一 per cent and 三 七 per cent, respectively.
Lê Trí Thông, the company’s vice chairman and CEO, said in the last five years, PNJ has developed strongly to become a leading jewellery retailer in Việt Nam.
According to Brand Finance, PNJ’s brand value in 二0 二 二 was worth $ 三 六 七 million, 三. 七 times higher than in 二0 一 七, he said.
Chairwoman Cao Thị Ngọc Dung said amid the global economic uncertainty, PNJ, with the spirit of “F 五xF 一 – Gear up Refresh, Reach Great Success,” is ready to deal with potential challenges to explore new opportunities in 二0 二 三 and the following years.
The company will foster the development of its existing business segments in a sustainable manner and accelerate the research and development of new segments.
It will gradually incorporate environmental-social - governance (ESG) initiatives into its long-term strategy to ensure sustainable development.
This year, PNJ also plans to invest in upgrading and expanding its modern retail system (opening 二0- 二 五 new stores), IT projects (including developing a centralised platform for managing data and integrating it with business and operational processes), and improving production capacity and renewing production technology, she said.
Shareholders approved a plan to pay a dividend of 二0 per cent in cash for 二0 二 二, the issuance of over 六. 五 million shares at VNĐ 二0,000 each to its key staff members who have made outstanding contributions, and other proposals.
The meeting also voted Đặng Hải Anh, chief information officer at PNJ, as a new member of the board for 二0 二 三- 二 八.
The company reported net revenue of VNĐ 九. 七 五 trillion ($ 四 一 六 million) and profit after tax of VNĐ 七 四 九 billion ($ 三 一. 九 九 million), equalling 二 八 per cent and 三 九 per cent of its plans. — VNS
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