KUALA LUMPUR: AEON Co. (M) Bhd reported a drop in fourth quarter earnings as sales suffered due to the Covid-19 restrictions.
Net profit in the three-month ended Dec 31 was RM27.2mil compared with RM49.9mil made a year ago.
Revenue fell by about a fifth to RM917mil due to the re-introduction of CMCO from Oct 14 in most states prompted by the surge of COVID-19 19 cases.
The retailer made a net profit of RM41.4mil, or 2.95 sen a share for the full year. It has declared a final dividend of 1.5 sen a share, or about 50% of its profits.
“We have acknowledged that the pandemic will continue to impact our business at least in 2021," CEO and managing director Shafie Shamsuddin said in a statement today.
"Currently we are providing more than 20,000 jobs within our ecosystem. Thus, it is imperative to navigate the pandemic and leverage it as a catalyst to change towards our re- development of skills and competencies so that we will be agile towards the New Retail," he added.