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AEON Credit posts RM28m Q1 net profit
by hlk Mon 18 Jun 2012, 21:38
AEON Credit Service (M) Bhd reported a net profit of RM28.09 million
for the first quarter ended May 20, 2012, representing an increase of
46.4 per cent against RM19.18 million chalked up in same quarter last
year.
Total revenue of RM101.62 million represented a growth of 31.7 per
cent over the previous year's revenue of RM77.15 million, it said in a
statement.
The strong results and growth in business was attributed to the
continued favourable economic environment and, marketing and promotion
activities.
It said total transaction and financing volume of RM523.87 million
for the quarter under review represented a growth of 40.4 per cent from
the previous year. Total financing receivables, as at May, stood at
RM1.65 billion, up 38.8 per cent.
It also said the non-performing loans ratio was reduced
at 1.68 per cent, as at end-May 2012, from 1.77 per cent in May 2011,
reflecting improvement in asset quality.
AEON Credit also proposed a one-for five bonus issue of 24 million
shares of RM0.50 each, to be credited as fully paid up, resulting in an
enlarged share capital of RM72 million.
Yasuhiro Kasai, Managing Director of AEON Credit, said the proposed
bonus issue was to reward existing shareholders for their loyalty and
continued support. -- Bernama
for the first quarter ended May 20, 2012, representing an increase of
46.4 per cent against RM19.18 million chalked up in same quarter last
year.
Total revenue of RM101.62 million represented a growth of 31.7 per
cent over the previous year's revenue of RM77.15 million, it said in a
statement.
The strong results and growth in business was attributed to the
continued favourable economic environment and, marketing and promotion
activities.
It said total transaction and financing volume of RM523.87 million
for the quarter under review represented a growth of 40.4 per cent from
the previous year. Total financing receivables, as at May, stood at
RM1.65 billion, up 38.8 per cent.
at 1.68 per cent, as at end-May 2012, from 1.77 per cent in May 2011,
reflecting improvement in asset quality.
AEON Credit also proposed a one-for five bonus issue of 24 million
shares of RM0.50 each, to be credited as fully paid up, resulting in an
enlarged share capital of RM72 million.
Yasuhiro Kasai, Managing Director of AEON Credit, said the proposed
bonus issue was to reward existing shareholders for their loyalty and
continued support. -- Bernama
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