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Maxi-Cash declares 55% increase in 1Q earnings to $2.8 mil on lower costs and expenses

Samantha Chiew
Samantha Chiew5/9/2019 06:30 PM GMT+08  • 2 min read
Maxi-Cash declares 55% increase in 1Q earnings to $2.8 mil on lower costs and expenses
SINGAPORE (May 9): Maxi-Cash reported 1Q19 earnings of $2.8 million, 55% higher than $1.8 million in 1Q18.
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SINGAPORE (May 9): Maxi-Cash reported 1Q19 earnings of $2.8 million, 55% higher than $1.8 million in 1Q18.

Revenue was however 13% lower at $46.6 million, compared to $53.9 million last year, primarily attributed to lower sales from the retail and trading of jewellery and branded merchandise business, which saw a 13.4% y-o-y decrease.

This was partially offset by an increase in revenue contribution from the pawnbroking business by about 3.6% y-o-y, primarily attributed to the higher interest income from its growing pledge book, while the secured lending business reported a 15.2% y-o-y increase in revenue.

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