ValueMax posts 43.9% drop in Q3 profit

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.

The group said its overall gross profit had decreased by S$0.8 million in the quarter just ended compared to a year ago, while its gross profit margin declined from 8.5 per cent in Q3 2013 to 7 per cent in Q3 2014.

Its expenses were up, while its share of results of associates decreased to S$0.3 million, from S$1 million the year before.

Its earnings per share were down to 0.32 cents for the quarter, from 0.80 cents the year before.

ValueMax shares last traded at S$0.435.