Aeon Credit Service posts 2Q net profit of RM75.65mil

The consumer finance company is set to see a firmer loan growth recovery that would boost its topline expansion this year due to higher financing demand.

KUALA LUMPUR: AEON Credit Service (M) Bhd says it is cautiously optimistic over a gradual return of revenue to pre-pandemic levels, as it reported the results of the first six months of its current financial year.

"Barring any unforeseen circumstances, the group expects to be able to maintain its financial performance by putting in place the appropriate measures for the financial year ending 28 February 2023," it said in a filing with Bursa Malaysia.

In the same announcement, the lender said net profit in the second quarter ended Aug 31, 2022, came to RM75.65mil, which was little changed from the previous corresponding quarter.

Earnings per share was 27.66 sen compared with 27.59 sen previously.

It said revenue was 6.6% higher at RM399.17mil, compared with RM374.48mil in the year-ago quarter on improved loan and financing growth.

Over the quarter under review, total transaction and financing volume was 127.5% higher year-on-year at RM1.61bil.

For the six months period to Aug 31, the group's net profit came to RM238.72mil on revenue of RM789.74mil, figures that are marginally higher than that of the corresponding period in 2021.

The board of directors has proposed a payment of an interim dividend of 28.5 sen per share, payable on Nov 3, 2022.

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Aeon Credit Service , financing , results


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