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Valuemax's Q1 profit surges 41.1% to S$4.9m

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PAWNBROKING chain Valuemax Group's net profit for its first quarter shot up 41.1 per cent to S$4.9 million from the previous year, the group said in a Singapore Exchange filing on Monday evening.

PAWNBROKING chain Valuemax Group's net profit for its first quarter shot up 41.1 per cent to S$4.9 million from the previous year, the group said in a Singapore Exchange filing on Monday evening.

For the three months ended March 31, revenue dropped 9.2 per cent to S$61.1 million from the year-ago period. The contraction in revenue was due partly to a dip in revenue from retail and trading of pre-owned jewellery and gold business, marginally offset by a rise in revenue from pawnbroking and moneylending business, it said.

Earnings per share for Q1 2017 rose to 0.93 Singapore cent from 0.66 Singapore cent in the previous year. Net asset value per share edged up to 31.98 Singapore cents as at March 31, from 31.08 Singapore cents three months ago.

Valuemax shares finished S$0.005 or 1.852 per cent lower at S$0.265 on Monday.

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