AEON Credit Q3 earnings soar 145.5%

AEON Credit said it expects a better performance for its financial year ending Feb 28, 2022, and pointed out that the easing of movement restrictions has allowed the group to gradually reopen its branch operations to better serve customers and expand its business.

PETALING JAYA: Aeon Credit Service (M) Bhd saw its net profit jumping 145.5% year-on-year (y-o-y) to RM103.5mil in its third quarter ended Nov 30, 2021 (Q3) even though revenue for the period was 6.2% lower at RM376.5mil.

The higher net profit during the quarter was mainly due to a drop in operating expenses as a result of lower impairment losses on financing receivables of RM33.1mil, compared to RM156.9mil a year earlier.