Phu Nhuan Jewelry Joint Stock Company explains the fluctuation more than 16.67% in its financial statements in 2019 compared to the same period of 2018 as follows:
2019
2018
Difference
Consolidated financial statements
Net revenue
17,000,681,080,523
14,571,135,744,850
16.67%
Profit after tax
1,193,924,957,243
959,923,347,147
24.38%
Separate financial statements
14,961,312,734,769
13,412,499,673,814
11.55%
1,158,012,975,662
941,240,908,760
23.03%
Net revenue increases because of the following causes:
- Compared to the same period, the number of new stores increased 15 stores.
- The purchasing power of jewelry market has gradually recovered from August 2019.
- New product lines meet the needs of the market.
Profit after tax increases because of the following causes:
- Revenue in 2019 rose 16.67% compared to the same period of 2018.
- PNJ controlled and used effectively expenses in the period.