Cash America warns on profit

City A.M. Reporter
CASH America International, the US-based pawn shop and cheque cashing chain, has warned its second-quarter earnings will be weaker than forecast.

The chain said weaker demand for consumer loans and higher operating expenses meant its earnings are likely to be around 81 cents per share, rather than the predicted range of 91 to 96 cents.

The firm said it expects “a trend of caution” among its pawn customers will continue this year.