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Valuemax Q2 earnings surge 46% at S$3.9m

Yeah Lee Ching, Executive Director, ValueMax Group
Yeah Lee Ching, Executive Director, ValueMax Group, isn't fazed by the looming GST hike.

VALUEMAX Group Limited's Q2 net profit surged 46 per cent to S$3.9 million from the year-ago period, it said in a Singapore Exchange filing on Monday evening.

For the three months ended June 30, revenue dropped 10 per cent to S$64.9 million compared to the corresponding period last year.

The fall in revenue - attributable to lower earnings from its retail and trading of pre-owned jewellery and gold - was slightly offset by the increase in income from pawnbroking and moneylending.

Q2 earnings per share increased to 0.74 Singapore cent from 0.51 Singapore cent in the previous year. Net asset value per share edged up to 29.61 Singapore cents as at June 30, from 29.14 Singapore cents six months ago.

No dividend was proposed. The counter rose 0.5 Singapore cent or 1.96 per cent to close at S$0.26 on Monday before the results were released.

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