NEWS

PNJ DISCLOSURE BUSINESS RESULT OF 01/2011- BUSINESS PROFITS UP 46%

21/03/2011 | Source: PNJ

Ending 2010, the year marked the changes in gold prices in the strongest fluctuation in recent years, leading to more anxiety and contrary forecasts for the gold market in the first month of 2011 as well as the difficulties for production and business activities of gold/silver/precious stones enterprises. However, production and business activities of Phu Nhuan Joint Stock Company (PNJ) in January 2011 provided very good results: Unincorporated revenue reached 1,620 billion VND, up 40% over the same period, reaching 16.2% compared with the year plan. Unincorporated pre-tax profit reached 44 billion VND, up 46% over the same period and 15% compared with the year plan. Ms. Nguyen Thi Cuc - Deputy Director of PNJ, said jewelry business activities have brought to PNJ jewelry this impressive result basically. This is the core business segment which continues to confirm a sustainable growth of PNJ – top jewelry brand in Vietnam.

Beginning of the year, PNJ has continuously expanded its stores all over the country. In January 2011, PNJ has established 3 more new jewelry stores in Hanoi, Da Nang, Quy Nhon, bringing the total number of PNJ’s stores is 140 nationwide, and continues to claim the first place in terms of jewelry business having the most extensive distribution system. Most recently, PNJ officially established PNJ Hung Vuong Jewelry Center – address: 123 Hung Vuong, Da Nang City – locates at the central of the busiest shopping center of Da Nang.
In particular, the gift market of the Valentine season has recently created a jewelry craze for PNJ through a campaign named "Love Forever with PNJ", which include the launching of a diamond jewelry collection named “Eternal Love" by PNJGold brand, and "999 confessions with PNJSilver" campaign of PNJSilver brand, which brought the surge growth in revenue. Especially, PNJSilver’s sales increased more than 200% over the same period. This optimistic result is the sign for the start and creates the impetus for a further year of sustainable development and success of PNJ.