Kuala Lumpur – AEON Credit Service (M) Berhad (AEON Credit or the Company) has reported net profit of RM58.24 million for the first quarter ended 31 May 2015, representing an increase of 3.5% from a net profit of RM56.28 million recorded for the quarter ended 20 May 2014. Total revenue of RM232.44 million for the first quarter represented growth of 15.7% over the quarter ended 20 May 2014 revenue of RM200.90 million.

Total financing volume of RM844.27 million recorded in Q1 FYE2016 was nearly same as the volume in quarter ended 20 May 2014, with cautious consumer spending in the market since April 2015 due to price increases of some goods and services, although growth was recorded in car financing and personal financing transactions.

Total financing receivables as at May 2015 was RM4.67 billion, representing growth of 21.6% from RM3.84 billion in the first quarter of previous year, with growth recorded in vehicle financing and personal financing product segments. Meanwhile, non-performing loans (NPL) ratio was 2.74% as at May 2015 compared to 2.76% and 2.18% in February 2015 and May 2014 respectively.

The Company expects to maintain its performance in the financial year ending 29 February 2016 through implementation of its business plan, with stronger performance in the second half of the financial year based on anticipated increase in consumer spending, based on the underlying domestic macroeconomic fundamentals remaining intact.