KUALA LUMPUR: Aeon Co. (M) Bhd's earnings rose 15.5% to RM105mil in the financial year ended Dec 31, 2017 compared with RM90.89mil a year ago, boosted by higher revenue and margin as a result of marketing and pricing strategies as well as better operation expenses control.
It reported on Wednesday profit before tax for rose 18.9% to RM193.80mil from RM163.03mil. Revenue was up 1.7% to RM4.088bil from RM4.018bil.
The higher revenue was mainlydue to contributions from its new store and shopping mall that was opened in September 2017 and full year contributions of its stores and malls that was opened or renovated in previous year,” it said.
Aeon said FY17 results included the impairment loss on investment in a subsidiary which amounted to RM19.6mil. However, this was offset with a gain of RM18.5mil from the sale of a shopping mall.
Excluding the one-off items, the profit before tax grew by 19.5%.
Aeon said its retail business segment's revenue for FY17 inched up 0.2% to RM3.424bil from RM3.418bil mainly due to opening of new store.
Its profit rose to RM39.3mil from RM14.7mil “mainly due to higher profit margin as a result of pricing strategies and merchandise assortment recorded in current year to date”.
As for its property management services, it recorded a growth of 10.5% to RM664.4mil from RM601mil, mainly due to contributions from new shopping mall.
Its profit rose 14.7% to RM239.8mil from RM209.1mil a year ago mainly due to the opening of new mall in September 2017.
In the fourth quarter, its earnings rose 26.4% to RM39.17mil from RM30.98mil a year ago. Its revenue was up 4.8% to RM1.067bil from RM1.018bil.
Earnings per share were 2.79 sen compared with 2.21 sen. It announced a dividend of four sen a share compared with three sen a year ago.
Already a subscriber? Log in.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!