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PNJ makes hefty profit in Jan-Nov

The Saigon Times

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HCMC – Phu Nhuan Jewelry JSC, whose PNJ shares are listed on the Hochiminh Stock Exchange, posted over VND31 trillion in net revenue and VND1.64 trillion in after-tax profit between January and November, surging by 85.4% and 96% year-on-year, respectively.

The jewelry firm’s 11-month revenue and after-tax profit exceeded its full-year targets by 20% and 24.2%, respectively.

In November alone, the firm reported over VND2.5 trillion in net revenue, up 16.8% year-on-year, and VND152 billion in after-tax profit, up 8.4% against the year-ago period, despite slowing consumption in the retail sector.

On December 30, the jewelry company will close its shareholder list for executing its stock dividend plan. PNJ is set to issue over 82 million bonus shares to its current shareholders. After the share issue, the firm’s chartered capital will increase to some VND3.1 trillion from VND2.3 trillion.

In spite of its strong gains in business, PNJ ended down today, December 22, extending its falling streak for a fifth straight session.

On the HCMC bourse, the VN-Index improved 3.73 points, or 0.37%, from the session earlier, at 1,022.61, with 232 gainers and 152 losers. Trade volume totaled 714 million shares worth VND12.9 trillion, down 17% and 10% against the previous day, respectively.

Many bank stocks were among the main drivers of the VN-Index, with VPB expanding 4.5% and taking the lead by liquidity on bourse with over 52 million shares changing hands.

In the bluechip group, housing developers KDH and PDR shot up to their upper limits, while realty firm VIC, brewery company SAB and mobile phone retailer MWG made a mild rise.

Gas firm GAS reported the sharpest drop in the group, while low-cost carrier VJC, consumer goods company MSN and securities corporation SSI fell slightly at the close.

The Hanoi exchange closed on an upbeat note as the HNX-Index gained 1.32 points, or 0.65%, from the previous session, at 205.79, with 87 advancers and 68 decliners.

Many large-cap stocks reversed course to close up, with construction firm CEO improving 4.8%.

Securities firm SHS was the most actively traded stock with a matching volume of 16.1 million shares, but lost 2.2% at the end.

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