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PNJ: Business result in the first 6 months 2009
PHU NHUẠN JEWELRY JOINT STOCK COMPANY (PNJ) has informed of business result in the first 6 months 2009 as follows:
In the first 6 months 2009, although the economy did not have signs for revival, business result of the company was very optimistic. The outstanding achievement was listing of PNJ stock on the Hochiminh Stock Exchange in March with purposes of increasing liquidity, popularity and transparency of the company operation.
By targeting the year of 2009 which is the selling year, the company has proactively widened its distribution channel and invested to jewelry stores throughout the country. In the first 6 months this year, it has opened additional 10 jewelry stores. Thus, total stores of the company are 97. Besides, PNJ has also focused on training salesman and increased their salary.
During the time, the company has implemented the plans such as launching new products and restructuring them to meet customer needs. For production and inventory, it has merged two factories of gold and silver into one and two wholesale centers into one. Therefore, it cut 30% of management expenses and 20% of inventory in these areas, reduced production from 19 days to 12 days.
With clear objectives and effective operation, business result of the company was high in the first 6 months 2009:
* Total sales: VND6,722 billion, equivalent to 124.48% of the plan
* Pre-tax profit: VND147.714 billion, reaching 67.76% of the plan
* After-tax profit: VND113.522 billion, reaching 64.55% of the plan.
* Expected dividend payment for 2009: 30%
In which: the first dividend payment in cash: 15%.
PNJ has planed to do a shareholder ballot for raising chartered capital from VND300 billion to VND400 billion which is based on paying bonus shares from capital surplus at ratio of 3:1.
In the last 6 months this year, PNJ continues to expand distribution channel with the total number of 100 stores. In addition, it will launch customer care programs and new jewelry products.
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