Aeon quarterly net profit jumps 123% to RM16.3mil

Retail business revenue fell by 5.9% to RM836.23mil from RM888.58mil due to shifts in consumer sentiments and cautionary consumer spending.

KUALA LUMPUR: Aeon Co (M) Bhd net profit rose by 123% to RM16.35mil in the third quarter ended Sept 30, from RM7.32mil a year ago due to improvement in merchandise gross margin.

In a statement, it said its earnings were also boosted by a change in marketing mechanics as well as agility to adapt to the current cost structure.