AEON Credit 1Q earnings at RM163mil


AEON Credit’s transaction and financing volume for 1Q increased by 5.6% y-oy to RM1.49bil. Its other income for the quarter was higher at RM58.73mil mainly due to higher bad debt recoveries.

PETALING JAYA: AEON Credit Service (M) Bhd reported an unchanged net profit of RM163.07mil year-on-year (y-o-y) for its first quarter ended May 31 (1Q) despite revenue falling slightly by 5% to RM390.57mil.

The consumer finance company said the reduction in revenue was mainly attributable to the decrease in average financing receivables as compared to the preceding year’s corresponding quarter.

AEON Credit’s transaction and financing volume for 1Q increased by 5.6% y-oy to RM1.49bil. Its other income for the quarter was higher at RM58.73mil mainly due to higher bad debt recoveries.

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