Aeon Credit's 1Q net profit grows 7.7%
Page 1 of 1
Aeon Credit's 1Q net profit grows 7.7%
Aeon Credit's 1Q net profit grows 7.7%
By Gho Chee Yuan / theedgemarkets.com | June 30, 2016 : 6:33 PM MYTKUALA LUMPUR (June 30): Aeon Credit Service (M) Bhd's net profit for the first quarter ended May 31, 2016 (1QFY17) grew 7.7% on year to RM62.73 million or 41.06 sen per share, from RM58.24 million or 37.96 sen per share a year ago.
Despite the better earnings, the financial group said the average funding cost was marginally higher compared to the previous quarter due to higher funding cost for new long-term funding.
Revenue rose 12.6% to RM261.64 million from RM232.44 million, it said in a filing to Bursa Malaysia.
Aeon Credit said total transaction and financing volume was RM1.008 billion, while the financing receivables were 21.6% higher at RM5.682 billion from RM4.671 billion.
Its non-performing loans ratio fell to 2.42% as at May 31 compared to 2.74% last year.
The group recorded an operating income of RM27.569 million, comprising mainly bad debts recovered, commission income from sale of insurance products, and AEON Big loyalty programme processing fees.
"Ratio of total operating expense against revenue was recorded at 60.5% as compared to 61.2% in the previous quarter. The decrease was mainly attributable to lower allowance for impairment losses on financing receivables," it added.
Moving forward, Aeon Credit expects to maintain its financial performance for the financial year ending February 2017 (FY17) despite challenges posed by the domestic and global economy.
Shares in Aeon Credit fell six sen or 0.46% to close at RM12.94, for a market value of RM1.85 billion.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics
» KPJ Healthcare grows Q2 profit to RM45m
» Amway H1 profit grows to RM53m
» Hai-O’s 4Q net profit grows 24.4%, declares 11 sen dividend
» Prestar Resources 1Q profit grows six-fold
» Hartalega's 4Q net profit grows 12%, pays two sen dividend
» Amway H1 profit grows to RM53m
» Hai-O’s 4Q net profit grows 24.4%, declares 11 sen dividend
» Prestar Resources 1Q profit grows six-fold
» Hartalega's 4Q net profit grows 12%, pays two sen dividend
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|