Aeon Credit Q4 net profit climbs to RM113.7mil

KUALA LUMPUR: Aeon Credit Services Bhd reported improved profits in the last quarter ended Feb 28 on lower impairment losses and higher bad debt recovered.

Net profit rose 28% to RM113.7mil compared with RM88.4mil made a year ago.

Revenue declined to RM406mil from RM413mil previously, it said in a filing with Bursa Malaysia today.

For the full year, Aeon Credit posted a net profit of RM233.4mil, or 87.7 sen per share.

It has declared a final dividend of 20 sen a share that lifted its full year payout to 29.2 sen a share.

In its outlook, Aeon Credit said it will continue to closely monitor and assess the inherent credit risks in its financing portfolio, with proactive attention focused on enhancement of asset quality, prudent cost management and improvement on financial and operational efficiencies by leveraging on its positive business fundamentals.

"Further to the implementation of additional measures directed by Bank Negara to assist customers experiencing financial difficulties due to the Covid-19 pandemic, the Company has taken actions to put the necessary measures in place to contend with the expected challenges," it said.

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Aeon Credit


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