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PNJ – Update – 20190304

Company Note 27/02/2019    122

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  • We expect a continuation of robust performance into 2019, driven by an expanding store footprint and gross margin expansion in the jewellery retail segment. The first flagship PNJ Watch store and PNJ Next stores were also recently launched, beginning a new chapter and augmenting new growth engines for PNJ.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND98,600

VND126,500

1.5%

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