KUALA LUMPUR (April 27): Aeon Credit Service (M) Bhd's net profit rose 2.8% to RM82.31 million for its fourth financial quarter ended Feb 28, 2018 (4QFY18) from RM80.05 million a year ago, mainly due to higher revenue.

This resulted in higher earnings per share of 31.87 sen in 4QFY18 compared with 30.94 sen in 4QFY17. Quarterly revenue grew 6.3% to RM309.17 million from RM290.84 million a year ago.

The group also declared a final dividend of 20 sen per share for the financial year ended Feb 28, 2018 (FY18), payable on July 19.

For FY18, the group posted a 13.2% increase in net profit to RM300.06 million compared with RM265.03 million in FY17, while revenue jumped 12.1% to RM1.24 billion from RM1.1 billion in the previous year.

In a filing with Bursa Malaysia today, Aeon Credit said total transaction and financing volume during 4QFY18 and FY18 were RM973.12 million and RM4.05 billion respectively.

The financing receivables as at Feb 28, 2018 stood at RM7.16 billion, up 11.1% from RM6.44 billion a year ago. Non-performing loans ratio was 2.33% compared with 2.28% as at Feb 28, 2017.

Other operating income was recorded at RM38.75 million and RM126.48 million for 4QFY18 and FY18 respectively, mainly comprising bad debts recovered, commission income from sale of insurance products and loyalty programme processing fees.

On prospects, Aeon Credit said: "The company expects to be able to sustain its financial performance for FY19 based on the scheduled implementation of its business plan."

Aeon Credit closed unchanged at RM12.82 today, with 19,500 shares done, bringing a market capitalisation of RM3.21 billion.