KUALA LUMPUR: Aeon Credit (M) Service Sdn Bhd remains cautious on the outlook for the second half of the financial year in view of prevailing economic headwinds, tightening policy rates to curb inflationary pressures and volatility in the global banking industry and financial markets.
In a filing with Bursa Malaysia, the company said it will continue to closely monitor its asset quality and assess the inherent credit risks in its financing portfolios, adopt prudent cost management and improve on financial and operational efficiencies by leveraging on its positive business fundamentals.
For its second quarter ended Aug 31, 2023, Aeon Credit’s net profit rose to RM120.19mil from RM75.65mil in the previous corresponding period, while revenue improved to RM471.73mil from RM399.17mil a year earlier, mainly attributable to stronger loan and financing growth.
Basic earnings per share stood at 45.10 sen versus 27.66 sen previously.
For the six-months period ended Aug 31, 2023, Aeon Credit’s net profit dropped to RM219.55mil from RM238.72mil in the previous corresponding period, while revenue improved to RM924.40mil from RM789.74mil previously.
To fortify its long-term business sustainability, Aeon Credit said it will continuously enhance its information technology capabilities to support its future growth.
“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 Feb 29, 2024.
Aeon Credit also declared an interim single-tier dividend of 28.50 sen per share for the financial year ending Feb 29, 2024, to be paid on Nov 2, 2023.