MoneyMax expects ‘significant improvement’ in H2 net profit

[SINGAPORE] Pawnbroker and gold retailer MoneyMax on Monday (Feb 2) said that it expects a “significant improvement” in its second-half and full-year net profit.

The company said that this was mainly due to a stronger financial performance of its pawnbroking segment, due to higher interest income, as well as the group’s retail and trading of gold and luxury items segment, due to higher gold prices and increased sales volume.

MoneyMax will share its second-half and full-year financial statements on Mar 1.

The Catalist-listed MoneyMax on Jan 14 also said that it is also looking to transfer its listing to the mainboard of the Singapore Exchange. Through the move, it aims to enhance its long-term value for its shareholders.

The company also expects a mainboard listing to boost its image locally and overseas, as well as give it greater visibility and recognition.

Shares of MoneyMax fell 9.6 per cent to close S$0.075 lower at S$0.705 on Friday.