MoneyMax has reported earnings of $12.9 million for the 1HFY2022 ended June, 51.0% higher than earnings of $8.6 million in the same period the year before.
During the half-year period, revenue increased by 46.6% y-o-y to $135.5 million due to higher sales from the retail and trading of gold and luxury items. Higher interest income from MoneyMax’s pawnbroking and secured lending segments also led to the higher revenue.
Other gains fell by 29.9% y-o-y to $0.8 million mainly due to the lower grants from the government.
Material costs rose by 51.7% y-o-y to $90.7 million in the 1HFY2022, in line with the higher sales from the retail and trading of gold and luxury items.
Other losses increased by 28.2% y-o-y to $0.3 million due to the provision of doubtful debts in the 1HFY2022.
As a result, profit before tax rose 51.1% y-o-y to $17.1 million.
As at June 30, cash and cash equivalents stood at $17.0 million.
Earnings per share (EPS) for the period came in at 2.92 cents on a fully diluted basis.
Shares in MoneyMax closed 0.3 cent higher or 1.52% up at 20 cents on Aug 10.