PNJ - OUTPERFORM - Core retail business prospers, target price intact - Update
  • 23 Oct 2014
  • Company Research
Excluding the one-off-gain from the divestment of Saigon Fuel Co. (SFC) in 3Q, PNJ’s 9M14 NPAT rose +53% YoY driven by remarkable growth in its core retail jewelry business which posted a 34% YoY increase in sales. PNJ opened 10 new gold jewelry stores in