MoneyMax Financial Services, a prominent player in the pawnbroking and luxury goods market, has reported a record profit after tax of $30.4m (S$41.6m) for the financial year 2024, marking a 65.4% increase from the previous year. This significant growth is attributed to the company’s core business segments, which include pawnbroking, retail and trading of gold and luxury items, and secured lending for automotive and property financing in Singapore.
The company, which operates over 100 stores across Singapore and Malaysia, is considering further expansion in these markets. MoneyMax differentiates itself from competitors by focusing on the pawnbroking and pre-owned luxury goods sectors, offering unique services that cater to a diverse clientele.
The “10 in 10” series by MoneyMax provides insights into the company’s strategies and objectives through a series of Q&As with management. This initiative aims to shed light on the company’s business objectives, key revenue drivers, and the broader industry landscape, offering a comprehensive view beyond traditional financial metrics.
As MoneyMax continues to expand its footprint, the company remains committed to modernising its operations and enhancing customer experience. The future looks promising for MoneyMax as it leverages its strengths in the pawnbroking and luxury goods markets to drive further growth.
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