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AEON Credit Q2 net profit up 46% to RM75.5mil

Kuala Lumpur, 28th September 2021,

AEON Credit Service (M) Bhd’s net profit rose by 46% to RM75.48 million for the second quarter ended Aug 31, 2021, from RM51.81 million in the same period last year partly due to lower impairment losses on financing receivables.

Revenue also increased to RM374.48 million from RM363.97 million previously, the non-bank financial services provider said in a filing with Bursa Malaysia today.

For the first six months (H1), the company’s net profit soared to RM238.58 million from RM78.09 million posted in the same period last year, while revenue climbed to RM785.44 million from RM753.85 million previously.

Aeon Credit Service said the higher H1 revenue was mainly attributable to higher interest income as the previous year’s revenue was impacted by Day-One net modification loss related to the AEON Relief Programme of RM28.409 million.

On prospects, the company said it was committed to strive in building its business sustainability agenda as recently announced and would be continuously investing in information technology to drive the digitalisation of its operations.

“Barring any unforeseen circumstances, the company expects to be able to maintain its financial performance for the financial year ending Feb 28, 2022,” it added.

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Source: The Star

Full Article: https://www.thestar.com.my/business/business-news/2021/09/28/aeon-credit-q2-net-profit-up-46-to-rm755mil

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