KUALA LUMPUR, April 25 — AEON Credit Service (M) Bhd’s net profit for the financial year ended Feb 28, 2019 (FY19) increased to RM354.62 million from RM300.06 million recorded in the previous financial year.

Revenue rose to RM1.37 billion from RM1.24 billion previously, the group said in a filing to Bursa Malaysia.

For the fourth quarter ended Feb 28, 2019, AEON Credit’s net profit rose 6.4 per cent to RM87.6 million from RM82.3 million, while revenue improved 16.3 per cent to RM359.5 million from RM309.2 million recorded in the same period a year ago.

“The improvement in revenue for the fourth quarter was mainly attributed to the increase in financing receivables for motorcycle financing, auto financing and personal financing businesses,” it said.

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Managing director Kenji Fujita said the company was expected to maintain its financial performance for the financial year ending Feb 29, 2020, based on the scheduled implementation of its business plan and leveraging on the strength of the AEON brand.

“This year, we will continue to prioritise further digitisation of our operations and accumulate innovative solutions as a key strategy to improving performance. In addition, the newly-launched e-wallet service that makes payments more convenient is among the initiatives we have introduced to ensure that our outreach to customers is maintained.

“These initiatives will ensure that the company is able to widen its customer base, and at the same time, remain competitive in the face of changing consumer and retail trends,” he added. — Bernama

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