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Tuesday, June 25, 2024

PNJ sets higher profit target for 2024

The Saigon Times

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HCMC – Phu Nhuan Jewelry JSC, which trades its PNJ shares on the Hochiminh Stock Exchange, has set a target of achieving after-tax profit of nearly VND2.1 trillion in 2024, a 6% increase over 2023.

Documents prepared for its general meeting of shareholders showed that PNJ looks to generate more than VND37.1 trillion in revenue, up by 12% year-on-year.

The company is expected to pay a cash dividend of 20% to its shareholders this year.

At the end of 2023, PNJ achieved net revenue of VND33.1 trillion, decreasing by 2% compared to the previous year.

However, its net profit reached more than VND1.97 trillion, increasing by 9% and beating the plan by 2%. This also marks the highest profit level in PNJ’s 35 years of operation.

Closing the trading session today, March 28, PNJ inched up by 0.21% day-on-day to VND97,700, with 975,300 shares changing hands.

On the southern bourse, the VN-Index gained 7.09 points, or 0.55%, against yesterday’s session, to 1,290.18 points, with 254 gainers and 209 losers.

The total trading volume exceeded 1.01 billion shares worth VND25.9 trillion, up more than 10% in volume and nearly 8% in value compared to the previous session. Block deals contributed over 123.7 million shares, valued at VND3 trillion.

Lender TCB was among the top performers in the VN30 basket as it surged by 5.4% to VND48,000. It saw over 30 million shares traded in one of the busiest trading days for this stock.

STB rose by 3.7% to VND32,000, while VHM increased by 1.9% to VND43,300.

At the close of the session, the Hanoi Stock Exchange saw 86 stocks advancing and 85 declining, with the HNX-Index rising by 1.07 points, or 0.44% day-on-day to 243.92 points. There were 83.6 million shares worth nearly VND1.8 trillion transacted.

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