Homegrown pawnshop chain ValueMax Group has reported earnings of $33.9 million for the FY2020 ended December, 33% higher than earnings of $25.5 million a year ago.

Revenue for the year grew by 17% y-o-y to $276.1 million due to higher revenue from retail and trading of pre-owned jewellery and gold businesses increased by $40.7 million due to the higher gold prices during FY2020.

The higher figure was mitigated by a decrease of $0.5 million from the group’s moneylending businesses. Revenue from its pawnbroking business remained stable.

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