Tuesday, December 20, 2011

Aeon Credit 3Q net profit up 57.4% to RM25.25m

Larger Smaller Reset KUALA LUMPUR (Dec 20): Aeon Credit Services (M) Bhd net profit for the third quarter ended Nov 20, 2011 rose 57.4% to RM25.25 million from RM16.04 million a year earlier, due mainly to growth in revenue.

The company said on Tuesday that its revenue for the quarter was up 31.7% to RM89.81 million from RM68.18 million.

Earnings per share for the quarter was 21.05 sen compared to 13.37 sen in 2010, while net assets per share was RM2.53.

For the nine months ended Nov 20, Aeon Credit's net profit increased to RM67.89 million from RM44.03 million in 2010, while revenue jumped to RM249.99 million from RM195.88 million.

Reviewing its performance, Aeon Credit said the increase in revenue was due mainly to growth in business and receivabled based on increased financing transaction volume as a result of marketing and promotion activities during the festive periods.

On its current year prospects, Aeon Credit said the Malaysian economy registered a higher growth of 5.8% in the third quarter of 2011 due to stronger domestic demand.

'The company anticipates to be able to sustain its performance for the remainder of the current financial year based on this trend,' it said.


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