HCM CITY — Phú Nhuận Jewelry Joint Stock Company (PNJ) has announced its business results for the first nine months of 2025, with net revenue reaching VNĐ25.3 trillion (US$960.8 million) and post-tax profit totalling VNĐ1.6 trillion ($60.7 million).

In the third quarter alone, PNJ recorded net revenue of VNĐ8.1 trillion, up 14.1 per cent year-on-year, and post-tax profit of VNĐ496 billion, a surge of 129.7 per cent compared to the same period last year.

Despite sluggish consumer demand for jewellery amid soaring gold prices, PNJ’s retail sales still recorded a 5.1 per cent year-on-year increase during the period.

The company attributed this steady performance to several factors: opening new stores, effective marketing campaigns, a flexible product strategy aligned with evolving market trends and consumer preferences, and ongoing improvements to customer experience and service quality.

Wholesale jewellery revenue also rose 5.3 per cent year-on-year in the first nine months.

Its average gross profit margin reached 20.8 per cent, up from 16.7 per cent a year earlier, primarily due to a change in revenue structure.

Retail jewellery contributed 65.6 per cent of total revenue, up 11.1 percentage points from 54.5 per cent in the same period of 2024. In addition, higher recovery value from repurchased products amid rising gold prices and tighter cost control helped the company improve operational efficiency and profit margins.

PNJ also introduced a range of new collections and expanded its product portfolio with customised designs tailored to different customer segments, styles, and preferences.

By the end of September, it had 429 stores compared to 418 a year earlier. — VNS