KUALA LUMPUR: AEON Credit Service (M) Bhd has registered a net profit of RM147.20 million for the six months ended August 31, 2017, rose 24.8 per cent from RM117.92 million in the corresponding period a year ago mainly due to higher financing volume.
Its total revenue for the first half year under review of RM613.60 million represented growth of 15.6 per cent from RM530.77 million last year.
In the second quarter ended August 31, 2017, the company posted 29.33 per cent higher in net profit to RM71.38 million from RM55.19 million in the same period a year ago.
The total financing volume was RM2.08 billion in the first half of the financial year, an increase of 5.1 per cent from RM1.99 billion last year mainly contributed by credit card transactions, consumer durables easy payment, motorcycle easy payment and personal financing schemes.
Total financing receivables as at August 31, 2017 of RM6.88 billion represented growth of 16.2 per cent from RM5.92 billion last year.
The non-performing loan (NPL) ratio remained stable at 2.48 per cent while net credit cost ratio for the year on average financing receivables was lower at 3.43 per cent compared to 3.73 per cent in the corresponding period last year.
The company expects to be able to maintain its financial performance for the year ending February 28, 2018 based on the scheduled implementation of its business plans.