Gross profit increased 22.0% y-o-y to $100.2 million, while gross profit margin increased 1.7 percentage points to 30.3% for FY2023.
For the 2HFY2022 period, earnings were up 44.4% y-o-y to 27.8 million, while revenue was 34.1% higher y-o-y at $179.2 million.
As at end-December, the group’s cash and cash equivalents stood at $10.7 million.
ValueMax’s board has declared a final dividend of 2.2 cents per share for FY2023, higher than the previous year’s 2.0 cents per share.
See also: Creative guides for ‘similar level of operating loss’ for 2HFY2025
Looking ahead, the company notes that gold prices peaked at around US$2,080 ($2798) per ounce in the last week of December 2023, and has since generally traded above US$2,000. However, it notes that with uncertain interest rate movements, the Ukraine War and geopolitical tensions in the Middle East, gold prices could continue to remain volatile.
ValueMax says it continues to face a challenging business environment and increased competition, especially in the money lending segment. The company will continue to explore acquisition opportunities and suitable locations to grow its network of pawnshops and retail outlets, and grow its money lending business.
Shares in ValueMax closed 0.5 cents lower or 1.56% down at 31.5 cents on Feb 20.
