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
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Target Price
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Dividend Yield
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Rating
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Sector
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VND52,100
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VND78,800
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3.5%
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ADD
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CONSUMER GOODS
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