(NLDO) - The price of 99.99 gold rings continues to reach a new peak, but the business results of the "gold giant" PNJ are surprising.
At 1:00 p.m. on October 22, SJC Company listed the buying price of SJC gold bars at VND87 million/tael and the selling price at VND89 million/tael - stable compared to the morning after increasing by VND1 million compared to yesterday.
However, the price of 24K gold rings and jewelry gold of all kinds continued to "rise" when SJC Company traded 99.99 gold rings at 85.5 million VND/tael for purchase and 86.8 million VND/tael for sale - an increase of 400,000 VND compared to yesterday.
The price of gold rings also varies between brands. PNJ Company listed the price of gold rings at 86.1 million VND/tael for buying and 87.1 million VND/tael for selling. DOJI Group sold plain gold rings at 87.2 million VND/tael, while Bao Tin Minh Chau Company traded up to 86.23 million VND/tael for buying and 87.48 million VND/tael for selling.
Gold ring price exceeds 87.4 million VND/tael
In general, the price of gold rings increased by a total of nearly 2 million VND/tael in the past 2 days.
Despite the price of gold rings hitting an all-time high, the business results of gold companies have had unexpected developments.
According to the recently announced Q3/2024 business results report of PNJ Company, the net revenue of this "gold giant" increased by 3.1% over the same period, reaching VND 7,130 billion, but after-tax profit only reached VND 216 billion, down 14.8% over the same period last year.
Although profits decreased in the third quarter, thanks to positive business results from the beginning of the year, PNJ Company still reported a profit of more than VND 1,300 billion in the first 9 months of 2024. Specifically, total net revenue in the past 9 months reached more than VND 29,240 billion, up 25.1% over the same period last year; profit after tax was more than VND 1,380 billion, up 3.2%.
"Gold tycoon" PNJ reported a profit of more than 1,380 billion VND in the first 9 months of this year.
Regarding business activities of each channel, revenue from 99.99 gold in the past 9 months increased sharply by 44.1% over the same period, according to PNJ, mainly due to the vibrant market in the first half of the year.
However, the gross profit margin in the first 9 months of this "gold giant" only reached 16.7%, down from 18.4% in the same period last year, due to the proportion of 99.99 gold in total revenue increasing but the profit margin of this segment is low.
In 2024, PNJ Company aims to have a profit after tax of more than 2,000 billion VND.
Source: https://nld.com.vn/gia-vang-nhan-vuot-874-trieu-dong-luong-dai-gia-vang-lam-an-ra-sao-196241022133304656.htm
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