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Maxi-Cash Financial Services Q2 net profit falls 20% to S$2.8m

MAXI-CASH Financial Services on Thursday announced a net profit of S$2.8 million in the second quarter, down 20 per cent from the same period a year earlier.

Revenue in the three months ended June 30 fell 19 per cent to S$45.4 million.

Earnings per share was 0.27 Singapore cent, down from 0.35 Singapore cent in the second quarter last year.

Net asset value per share was 13.58 Singapore cents as at June 30.

A dividend of S$0.0025 per share has been declared, down from S$0.003 per share in the first-half last year.

The group said: "The uncertain economic conditions continue to impact job creation and consumer sentiment which affected our retail and pawnbroking businesses. Keen competition, increasing operating costs, volatile gold price and exchange rates posed further challenges."

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