KUALA LUMPUR (April 25): Aeon Credit Service (M) Bhd saw its net profit for the fourth quarter ended Feb 28, 2017 (4QFY17) rise 17% to RM80.05 million from RM68.13 million a year ago, as revenue climbed 13% to RM290.84 million from RM258.29 million.

For the financial year ended Feb 28, 2017 (FY17), its net profit grew 16% to RM265.03 million from RM228.22 million a year ago, while revenue gained 14% to RM1.1 billion from RM965.23 million.

Aeon Credit declared a final single-tier dividend of 32.5 sen per share for the final quarter, bringing its total FY17 payout to 63 sen versus 59.45 sen in FY16.

In total, Aeon Credit said it will fork out RM46.8 million to pay the dividends, which is payable on July 19, according to its bourse filing today.

Aeon Credit said it recorded higher total transaction and financing volume, which grew 4% in 4QFY17 and 11% for the full year to RM991.03 million and RM4.015 billion, respectively.

As for other operating income, it jumped 59% to RM39.23 million in 4QFY17, and 33.6% to RM120.24 million in FY17, boosted by bad debts recovered, commission income from the sale of insurance products and Aeon Big loyalty programme processing fees.

As for financing receivables, Aeon Credit said it stood at RM6.44 billion as at Feb 28, 2017, up 19% from RM5.41 billion recorded as at end-February 2016.

"Non-performing loans ratio was 2.28% as at Feb 28, 2017 as compared to 2.47% as at Feb 29, 2016," the company said.

"Average funding cost for FY17 was marginally higher compared to the previous financial year due to higher funding cost for new long-term funding," Aeon Credit added.

On prospects, Aeon Credit said it "expects to be able to maintain its financial performance for FY18 based on the scheduled implementation of its business plan".

Shares of the Main Market-listed Aeon Credit closed 46 sen or 2.9% higher at RM16.30 today, giving it a market capitalisation of RM2.35 billion.