Tuesday, 24 April 2012

Aeon Credit trades at highest since Dec 07 IPO

KUALA LUMPUR (April 24) : Top gainer AEON CREDIT SERVICE (M) BHD [] gained as much as 3.4%, sending the stock to its highest since its listing, after the firm announced stronger earnings and proposed dividends.

Aeon Credit shares added 33 sen to settle at RM9.95 at lunch break.with some 622,000 shares done. The financial services entity was listed in December 2007 at an issue price of RM2.50.

Aeon Credit said last Thursday net profit rose 51% to RM95.61 million in financial year ended February 20, 2012 (FY12) from RM63.43 million a year earlier. Revenue climbed 28% to RM344.27 million from RM269.61 million.

The company plans to reward shareholders with a final single-tier dividend of 16.8 sen a share which requires shareholders’ consent. The proposed dividend brings Aeon Credit’s total payout to 30 sen a share in FY12, translating into a yield of 3% based on its latest share price.

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