KUALA LUMPUR, Feb 24 — Aeon Co.(M) Bhd’s net profit for the financial year ended Dec 31, 2019 (FY19) jumped to RM109.30 million from RM105.12 million in the preceding year.
Revenue increased 4.3 per cent to RM4.54 billion from RM4.35 billion previously mainly due to contributions from newly renovated stores and newly opened specialty stores in FY19.
“The higher growth was however mitigated by the temporary closure of stores for renovation in FY19 and the downsizing of a store at end of the previous year,” it said in a filing with Bursa Malaysia today.
On current year prospects, the company said the Covid-19 outbreak had affected the economy in general, including the retail sector, and it remains to be seen as to how long the outbreak will persist.
“Barring the economic stimulus package to be announced by the government, the company is expecting a moderate growth due to the challenging environment.
“The company is taking active measures to ensure that its businesses remain resilient during this period through innovative marketing strategy, realignment of its merchandise assortment to be in line with the current sentiment of the consumers, and tackling the crisis together with its business partners,” it added. — Bernama
