PNJ – 2Q20 results hit hard by COVID-19 – Update
- PNJ’s 2Q20 revenue dropped 7.2% yoy to VND2.270bn while net profit plunged 81.3% yoy to VND32bn.
- PNJ’s 1H20 revenue edged up 0.2% yoy to VND7,817bn while net profit fell 26.4% yoy to VND440bn, making up 45% of our full-year forecast.
- Reiterate ADD with unchanged TP of VND78,800
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND52,100
|
VND78,800
|
3.5%
|
ADD
|
CONSUMER GOODS
|
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