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Maxi-Cash sees nearly double earnings of $29.3 mil for FY20 on higher revenue from retail and trading of jewellery, higher rental income

Felicia Tan
Felicia Tan2/23/2021 6:27 PM GMT+08  • 2 min read
Maxi-Cash sees nearly double earnings of $29.3 mil for FY20 on higher revenue from retail and trading of jewellery, higher rental income
Shares in Maxi-Cash closed 0.1 cent higher or 0.6% up at 17 cents on Feb 23.
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Maxi-Cash Financial Services has posted earnings of $29.3 million for the FY2020 ended December, 97% higher than earnings of $14.8 million.

The higher earnings was mainly attributable to higher revenue, and rental income, which more than doubled during the year.

Revenue for the FY2020 grew 20% y-o-y to $262.8 million due to higher contribution from the retail and trading of jewellery and branded merchandise. This was partly offset by a decrease in revenue from the pawnbroking business and secured lending business.

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