MoneyMax reports higher earnings of $38.2 mil for FY2024, up 68.6% y-o-y

The group recorded a revenue of $390.1 million for the FY2024, up 36.5% y-o-y. Revenue for the 2HFY2024 also grew 31.2% y-o-y to $204.9 million. 

The group’s largest revenue contributor, the retail and trading of gold and luxury items, contributed $266.6 million in FY2024, a 36% y-o-y growth. This is due to increased sales volume supported by higher gold prices. 

Pawnbroking also saw robust growth, with revenue climbing 47.3% y-o-y. This is due to higher interest income from the expanded pawnbroking receivables portfolio. 

The group says that Singapore remains its largest market, with a revenue contribution of $339 million in FY2024.

See also: Newly-listed Lum Chang Creations earnings surge to $12.9 mil for FY2025; proposed final dividend of 2.2 cents

The group proposed a final cash dividend of 1.4 cents per share in FY2024. 

Shares in MoneyMax closed 1 cent higher or 2.703% up at 38 cents on Feb 25.