MoneyMax Financial Services (5WJ) H2 2023 earnings summary

Executive summary

• FY2023 marked another record-breaking year, with growth across pawnbroking, retail and trading of gold and luxury items, and secured lending.

• Strategic expansion included 100 outlets in Singapore and Malaysia and diversification into property financing.

Financial highlights

• Revenue rose 12.7% YoY to S$285.7m from S$253.5m, exceeding S$280.0m for the first time.

• Profit before taxation increased 7.7% YoY to S$32.0m from S$29.7m.

• Net profit attributable to shareholders rose 2.8% YoY to S$22.7m from S$22.1m.

Outlook and guidance

• Property financing was added to secured lending, leveraging existing financial-services networks and knowledge; strategic initiatives are expected to contribute to future growth.

• A 100-outlet footprint across Singapore and Malaysia is positioned to serve growing regional demand for financial services.