Aeon rises 2.39% on doubling 2Q earnings to RM19.45m

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KUALA LUMPUR (Aug 27): Aeon Co (M) Bhd shares rose 2.39% today after the group doubled its net profit to RM19.45 million for the second financial quarter ended June 30, 2019 (2QFY19), from RM9.79 million a year earlier, due to the absence of impairment losses at an associate, which had impacted its results in the previous year’s corresponding quarter.

At 9.15am, Aeon rose 4 sen to RM1.71 for a market capitalisation of RM2.40 billion.

Its quarterly revenue grew 3% to RM1.1 billion, from RM1.06 billion a year earlier.

For the first half of its financial year (1HFY19), cumulative net profit stood at RM52.09 million, a 38% jump from RM37.73 million in the corresponding period a year earlier, while revenue increased 6% to RM2.31 billion from RM2.18 billion.