FY2021: Aeon Credit posts lower net profit of RM233.96m

KUALA LUMPUR, April 8 () — Aeon Credit Service (M) Bhd posted a lower net profit of RM233.96 million for the financial year ended February 28, 2021 (FY2021) from RM292.05 million a year ago.

Revenue also declined to RM1.56 billion from RM1.60 billion in the preceding year.

In a filing with Bursa Malaysia today, it said the lower revenue was mainly attributed to lower fee income by RM36.51 million, in line with weaker transaction and financing volume.

For the fourth quarter, the company registered a net profit of RM113.72 million against RM88.39 million, while revenue stood at RM406.35 million from RM 413.28 million year-on-year.

On the current year’s prospects, the company would continue to closely monitor and assess inherent credit risks in its financing portfolio.

This includes proactive attention focusing on enhanced asset quality, prudent cost management, improvement on financial and operational efficiencies.

“The company is committed to its business sustainability agenda and will be continuously investing in information technology to drive its digitalisation initiative,” it said.

Barring any unforeseen circumstances, the company expects to be able to maintain its financial performance for the financial year ending February 28, 2022. — Bernama

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