Average gross profit margin in Q4.2024 reached 20.9%, up from 17.9% in the same period in 2023 due to improved cost of goods sold and recognition of results from 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.
“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,” shared 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).
