Give us your feedback

PNJ – Update – 20181023

Company Note 23/10/2018    135

Share

  • PNJ reported robust 9MFY18 business results with topline rising by % yoy and bottom-line growing by 37.8% yoy. These results were slightly above our forecasts mainly due to GPM expansion in jewelry segment and higher jewelry contribution to revenue both surpassing our expectations.
  • During 3Q, the company opened 44 new stores and closed 5 old stores, bringing the total store count up by 39 stores to 308 stores in total as of end3QFY18.
  • Reiterate ADD, as YTD earnings are tracking our full-year projections. We will revisit our valuation and release an update report soon.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND101,500

VND120,700

1.8%

ADD

CONSUMER GOODS

 

Please follow this link for the full report

DMCA.com Protection Status