Evergreen Max Cash Capital Bhd continues to seek expansion through opening of new outlets and acquisition in both the conventional and Islamic pawnbroking segments as the company's net profit for the third quarter of 2024 surged 193% year-on-year (YoY) to RM8.72 million from RM2.98 million recorded in 2023, while quarterly revenue increased 33% YoY to RM30.24 from RM22.76 million, according to a press statement circulated by the company.

Earnings Per Share (EPS) for the third quarter amounted to RM0.78, compared to RM0.35 last year, representing an increase of 123%.

Looking ahead, Evergreen Max will continue to expand its network of pawnbroking outlets through organic openings of new outlet and acquisition to strengthen its position in the sector.

The Ace market-listed company currently operates a network of 28 conventional pawnbroking outlets across Malaysia and has expanded into the Islamic pawnbroking sector with 39 Islamic pawnbroking outlets, allowing the company to serve a wider range of customers, contributing positively to the long term business growth.

Meanwhile, cumulative nine-month revenue increased to RM81.49 million, representing a 9% increase YoY from RM74.80 million recorded in the corresponding period in the previous year. The year-to-date (YTD, up to September) net profit increased 86% YoY to RM18.99 million, from RM10.19 million.

EPS for the nine-month period stood at RM1.70, compared to RM1.20 in the corresponding period last year, representing an increase of 41%.

The Board of Directors has decided not to declare a dividend for the third quarter of 2024. The company remains committed to strengthening its balance sheet and reinvesting in strategic initiatives to drive long-term growth.