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PNJ - Retailing segment drives strong 9M 2016 results - Earnings Flash

PNJ released preliminary 9M 2016 results with revenue +6% and PBT +122% vs 9M 2015. The significant jump in reported PBT is attributable to 1) a 27% increase in core PBT, 2) lower provision expenses for PNJ’s investment in Dong A Bank and 3) financial gain from a real estate divestment.