Key Financial Summary
Profitability
FY
2010
|
FY
2011
|
FY
2012
|
|
Revenue
(million)
|
41.68
|
62.93
|
75.57
|
Net
Income
|
1.16
|
3.50
|
5.83
|
Net
profit margin (%)
|
2.78
|
5.56
|
7.71
|
Increasing
Revenue and improving Net profit margin.
Liquidity
& Solvency
Current
Ratio
|
1.36
|
Quick
Ratio
|
1.25
|
Total
Debt/Equity
|
2.26
|
Total
Debt/Total Assets
|
0.26
|
Avg
Assets/Avg Equity
|
3.49
|
Interest
Coverage Ratio
|
5.95
|
MoneyMax
is solvent and does not face much difficulty in keeping up with
interest payments.
Peer
Comparison
MoneyMax
|
MaxiCash
|
|
ROA(%)
|
0.47
|
0.11
|
ROE(%)
|
1.64
|
0.31
|
PE
|
17.99
|
44.39
|
P/BV
|
2.92
|
3.22
|
MoneyMax
has better ROA and ROE; and relatively undervalued.
Growth
stimuli for MoneyMax and the sector
- Rising population increases customer base
- Rising affluence fuelling demand for jewellery/ timepieces
- Rising cost of living and depressed wages may drive pawnbroking activity, as more individuals obtain short-term loans
- Possible unsecured lending curbs result in higher pawnbroking activity from consumers unable to obtain unsecured credit
- Demand for gold as a safe haven is beneficial to its retail and trading operations
