Pawnbroker ValueMax's Q3 profit falls 44% as gold prices drop
Singapore
MAINBOARD-listed pawnbroker ValueMax Group saw its net profit attributable to shareholders fall 43.9 per cent year-on-year to S$1.69 million for the third quarter ended Sept 30, 2014.
This, despite its revenue climbing 7.5 per cent to S$87.58 million, from the year before. Revenue was up, thanks to an increased contribution of S$7.5 million for the retail and trading of pre-owned jewellery and gold business, while the pawnbroking business declined by S$1.3 million.
The group's gross profit slipped 11.8 per cent from the year before, as its cost of sales increased by 9.3 per cent year-on-year - outpacing its growth in revenue. Its gross profit margin declined to 7.0 per cent in the September quarter this year, from 8.5 per cent in the Septe…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China knockoff raid jolts a global throng of fake-fashion influencers
Tesla profits tumble but shares rise on new vehicle plan
Brokers’ take: CGS International upgrades Nanofilm to ‘hold’ despite lower target price
Roche cuts pipeline after research setbacks and sales drop
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
London stocks hit new record at open