PNJ earned 37,823 billion VND in net revenue and 2,115 billion VND in profit after tax.

In 2024, PNJ earned VND 37,823 billion in net revenue and VND 2,115 billion in profit after tax, up 14.1% and 7.3% respectively over the same period last year.

In 2024, PNJ earned VND 37,823 billion in net revenue and VND 2,115 billion in profit after tax, up 14.1% and 7.3% respectively over the same period last year.

Phu Nhuan Jewelry Joint Stock Company (PNJ) has just announced its 2024 business results with net revenue reaching VND 37,823 billion and after-tax profit reaching VND 2,115 billion.

PNJ's business report shows that in the fourth quarter of 2024, the company recorded net revenue of VND 8,581 billion, and profit after tax of VND 733 billion. At the same time, the average gross profit margin in the fourth quarter of 2024 reached 20.9%, up from 17.9% in the same period of 2023 due to improved cost of goods sold and recognition of the results of cost optimization initiatives.

Accumulated for the whole year of 2024, PNJ earned VND 37,823 billion in net revenue and VND 2,115 billion in profit after tax, up 14.1% and 7.3% respectively over the same period last year. Of which, sales from the jewelry segment accounted for 68.3% of the total revenue structure in 2024 (including 58.3% retail and 10% wholesale). Thus, PNJ officially completed the annual business target registered at the General Meeting of Shareholders.

PNJ completes revenue and profit plan for 2024 (Source: PNJ Report)

“Over the past year, PNJ has drastically innovated and created to adapt to market fluctuations. Business and marketing strategies that are different from the market are the key factors that help us realize our 2024 goals. This is also a record in the company's history of operations,” said a PNJ representative.

At the same time, PNJ determined that market expansion and customer approach must be carried out in both depth (product portfolio) and breadth (geography). Specifically, the company has developed the Tier 1 jewelry market, while accelerating in the Tier 2 and Tier 3 markets with many new sales models and business segments.

In terms of business performance by channel, PNJ's retail jewelry revenue in the 12 months of 2024 increased by 14.4% over the same period, thanks to the following factors: expanding the network and increasing the number of stores (an increase of 29 new stores compared to 2023) and improving service quality; optimized product line strategy and structure, in line with market trends and receiving positive feedback from customers; effective marketing strategies and sales programs, increasing customer access; successfully exploiting new customers, while increasing the rate of returning old customers.

PNJ continuously increases new customers (Photo: Viet Hung)

In addition, wholesale jewelry revenue in the 12 months of 2024 increased by 34.6% over the same period. With the advantage of being a reputable, regulated manufacturer and complying with regulations, PNJ continues to receive the attention and trust of customers when the market tightens requirements on product origin control.

24K gold revenue in 2024 increased by 11.5% over the same period, mainly due to the strong increase thanks to the market's excitement in the first half of the year and the gradual decline in the second half of the year.

On the other hand, the average gross profit margin in 2024 will reach 17.6%, down from 18.3% in the same period in 2023. This is a positive profit margin and is the result of many solutions, including: Maintaining stable profit margins from retail and wholesale channels; Improving production capacity and optimizing product design and sales policies to meet changing market needs.

As of the end of December 2024, the PNJ system has 429 stores nationwide. Including 421 PNJ stores, 4 Style by PNJ stores, 3 CAO Fine Jewellery stores and 1 Wholesale Center.

Recently, on January 21, 2025, the Board of Directors of PNJ approved three Resolutions on personnel changes. Accordingly, Ms. Tran Phuong Ngoc Thao - Vice Chairman of the Board of Directors of PNJ, General Director of PNJ was appointed by the Board of Directors of PNJ to hold the position of General Director of PNJ Jewelry Manufacturing and Trading One Member Co., Ltd. (PNJP), replacing Mr. Huynh Duc Huy, with a term of 03 years from February 5, 2025 according to the personnel strategy proposed by PNJP.

At the same time, Mr. Huynh Duc Huy will continue to be a key personnel in the role of Member of the Board of Members during the previously appointed term of the Board of Members. The Board of Directors of PNJ has also appointed Ms. Dang Thi Lai as the Company's Authorized Representative and holds the position of Chairwoman of PNJ Valuation One Member Company Limited (PNJL), replacing Ms. Tran Phuong Ngoc Thao, with a term of 05 years from February 5, 2025. Appoint Ms. Dang Thi Lai, currently a non-executive member of the Board of Directors, as a member of the Company's Audit Committee from January 21, 2025 with the same term as the Board of Directors.

Source: https://baodautu.vn/pnj-thu-ve-37823-ty-dong-doanh-thu-thuan-va-2115-ty-dong-loi-nhuan-sau-thue-d242521.html