PNJ achieves half of full-year earnings target in Jan-May

HCMC – Phu Nhuan Jewelry Joint Stock Company (PNJ) has achieved 50.1% of its full-year earnings target, with its revenue and net profit reaching nearly VND14.3 trillion and VND970 billion, respectively.

In May alone, the gold and silver jewelry maker posted over VND2.2 trillion in revenue and VND110 billion in profit after tax, equivalent to the amounts recorded in April, according to its latest earnings report.

The demand for gold and jewelry products from January to May dipped 8.7% year-on-year. However, the firm’s effective business strategy and market approach have enabled it to maintain its market share and limit its losses amid unfavorable business conditions, said PNJ.

Though revenue from jewelry retail sales in the five months plunged by 27% over the same period in 2022, a wider customer base has beefed up the retailer’s resilience.

By the end of May this year, the company was running 376 shops nationwide.

Closing the trading session today, June 21, its PNJ shares edged up 0.69% from the previous session to VND72,800 per share.

On the southern market, winners continued to outnumber losers by 323 to 108. The VN-Index of the Hochiminh Stock Exchange added 6.74 points to 1,118.46 points, up 0.61% day-on-day.

Trade volume and value improved nearly 26% and 28.7% against Tuesday, with 875.9 million shares worth VND17.5 trillion changing hands. Block deals contributed around VND2 trillion to the overall value, with 75,4 million shares transacted.

In the VN30 basket, the number of advancers tripped that of decliners by 21 to 7, pushing the VN30-Index up 7.8 points to 1,112.07 points.

Among the largest 30 stocks by market capitalization, HPG was the main driver as it contributed 1.4 positive points to the benchmark VN-Index with a gain of 4.02% and 35.6 million shares matched.

GVR and VNM contributed a combined 1.1 positive points with respective increases of 3.72% and 1.22%.

Other steel stocks also ended up today. HSG, NLG, TLH, SMC and POM rose between 2.6% and 4.4%. HSG and NLG saw a trading volume of around 20.4 million shares and 17 million shares, respectively.

Securities stocks performed well, with VIX, TVB, HCM, ORS, FTS, BSI, VCI and SSI gaining from 1.2% to 5%. Among them, VND was the most traded stock, with 28.2 million shares matched, but inched up only 0.8%.

GEX stole the limelight with a rise of 5.7% and a matching volume of 37.7 million shares, taking the lead by liquidity on the southern stock market.

On the northern bourse, the HNX-Index of the Hanoi Stock market gained three points, or 1.31% from the session earlier, to 231.77 points, with 125 stocks rising and 57 others dipping.

There were more than 100.6 million shares valued at VND1.7 trillion traded.

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