MoneyMax profit jumps 65% in FY 2024

The group’s revenue rose 36.5% year-on-year to $390.1m.

MoneyMax Financial Services Limited’s profit after tax increased by 65.4% to $41.6m in the financial year 2024 due to higher revenue.

The group’s revenue rose 36.5% year-on-year to $390.1m, up from $285.7m in FY 2023.

The retail and trading of gold and luxury items, contributed $266.6m, reflecting a significant 36% YoY growth driven by increased sales volume and higher gold prices.

The pawnbroking segment also grew, with revenue climbing 47.3% YoY to $94.3m due to higher interest income from the expanded pawnbroking receivables portfolio.

Singapore remains the group’s largest market, with a revenue of $339m marking a 33.5% YoY growth.

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