KUALA LUMPUR: Aeon Credit Service (M) Bhd’s earnings rose 12.1% to
RM48.29mil in the third quarter ended Nov 20, 2014 from RM43.05mil a
year ago, boosted by an increase in the bad debts recovered and AEON Big
loyalty programme processing fee.
It said on Tuesday its revenue increased by 21.4% to RM216.21mil
from RM178.03mil a year ago. Earnings per share were 32.50 sen compared
with 29.9 sen.
For the nine months ended Nov 20, 2014, its earnings increased by
19.2% to RM152mil from RM127.53mil in the previous corresponding period.
Revenue rose 29.2% to RM626.43mil from RM484.77mil.
Aeon Credit said total transaction and financing volume in the
third quarter and nine months ended Nov 20, 2014 was RM848mil and
RM2.559bil, a growth of 3.6% and 3.4% respectively from previous year
corresponding period.
“Higher growth was recorded for auto financing operations. The
financing receivables as at Nov 20, 2014 was RM4.354bil, representing an
increase of 29.5% from RM3.361bil in the previous year quarter ended
Nov 20, 2013,” it said.
Aeon Credit’s non-performing loans (NPL) ratio was 3.07% as at November 2014 compared to 2.02% as at November 2013.
“Other operating income recorded of RM14.19mil and RM40mil for the
third quarter and nine months ended Nov 20, 2014 was 64.6% and 46.6%
higher than previous year corresponding period respectively. This is
mainly contributed by increase in bad debts recovered and AEON Big
loyalty programme processing fee,” it said.
Aeon Credit said receivables amounting to RM38.641mil and
RM115.053mil (Nov 20, 2013: RM25.775mil and RM72.526mil) were written
off against allowance for impairment losses on
receivables for the current quarter and nine months ended Nov 20, 2014 respectively.
