KUALA LUMPUR: Aeon Credit (M) Bhd shares rose on Wednesday, June 15 on the back of its expansion plans and the 45.3% jump in net profit to RM19.18 million in the first quarter ended May 20 versus RM13.20 million a year ago.
At 9.05am, Aeon was up 14 sen to RM5.04 with 18,600 shares traded.
Its revenue rose by 22.5% to RM77.15 million from RM62.96 million. Its earnings per share were 15.99 sen versus 11 sen.
Aeon also plans to expand into India with an initial capital expenditure of US$7 million, which would be split between the company, its Japanese parent and a local partner based in India.
Managing director Yasuhiro Kasai said its Indian operations would only contribute to revenue three years after it commences while it might take seven years before this segment of the business contributes substantially.
He said 75% of the US$7 million investment would be provided by the company and its Japanese parent.
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At 9.05am, Aeon was up 14 sen to RM5.04 with 18,600 shares traded.
Its revenue rose by 22.5% to RM77.15 million from RM62.96 million. Its earnings per share were 15.99 sen versus 11 sen.
Aeon also plans to expand into India with an initial capital expenditure of US$7 million, which would be split between the company, its Japanese parent and a local partner based in India.
Managing director Yasuhiro Kasai said its Indian operations would only contribute to revenue three years after it commences while it might take seven years before this segment of the business contributes substantially.
He said 75% of the US$7 million investment would be provided by the company and its Japanese parent.
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