Pawnshops profit vanish 20%

Pawn PT (Persero) recorded a decline in first-half profit in 2013 amounted to Rp718 billion. The decline equivalent to 22 per cent, compared with the previous acquisition of Rp929 billion.

Director of Mortgage Finance Agus Dwi Pramoedya said the decline in profit due to the decline in gold prices Pawn. “Earnings in the first half we declined, due to the decline in gold prices greatly affect the performance, so terkspos pawnshops with gold prices, gold prices fell borrowing had come down,” said Dwi on Pawn Headquarters, Jakarta, Thursday (01/08/2013).

Dwi explained, for income, Pawn still recorded an increase. Where the report in June of this year recorded revenue Rp 4, 1 trillion, or an increase of 6.5 percent over the same period last year, which is Rp3, 8 trillion.

While the number of assets, Dwi said today there was an increase in total assets Pawnshops, where the current total assets Pawn Rp33 trillion, up 13 percent compared to last year’s total assets amounted to Rp29 trillion.

“Customers we still rose to 14.4 million compared to June last year, there was an increase of 5 per cent, last year’s 13.7 million customers,” he added.

Further Dwi, turnover Pawn until June submit their increased 6 percent to Rp46 trillion last year reached Rp43 trillion.

Meanwhile, the increase in Islamic mortgage that has increased 8.6 percent, where as of June this Pawnshops scored 6 trillion last year compared with the same period amounted to Rp 5, 5 trillion.

“Operating revenues actually still rising, with the increasing number of our customers, it looks the business we’re still growing,” he said.

Earnings Fall 22% Pawnshops Because Kraft

Mortgage PT (Persero) recorded a decrease in net income to Rp 718 billion in the first half of 2013. The number is down about 22% when compared with net income in the same period of the previous year of Rp 929 billion. Profit decline was due to a continued decline in the price of gold on the market.

“The decline in gold prices greatly affect the performance of the company’s significant because when the price of gold fell Mortgage loan disbursement will face obstacles because its value will go down as the price of gold down,” said Director of Mortgage Finance Agus Dwi Pramoedya when met at the Central Office Pawn Kramat, Jakarta, Thursday (01/08/2013).

However, he said, although besih profit declined but remains the company’s turnover rose. In the first half of this year, the company’s revenue still grew by 6.5% to Rp 4.1 trillion over the same period the previous year which only Rp 3.8 trillion.

Total assets also go up to Rp 33 trillion in the first half of 2013, an increase of 13% when compared to its total assets in the same period the previous year which reached Rp 29.1 trillion.

From the business side, Pawn is able to achieve a turnover in the pawning business of gold amounting to Rp 46 trillion in the first half of 2013, an increase of 6% from the same period last year of Rp 43 trillion.

“It is conventional. If sharia as of June 2013 was Rp 6 trillion, Rp 5.5 trillion last year finished up 8.6%,” he said.

In addition, the company’s customers also increased 15% to 14.4 million in the first half of 2013, when compared to the same period of the previous year which only 13.7 million.

“Seeing this increase, we believe the mortgage business will continue to grow,” he said.