AEON Credit Service (M) Bhd turned in a stronger second quarter (2Q) ended Aug 31, 2017, on higher financing volume and receivables.

In an exchange filing yesterday, the financing company’s net profit and revenue jumped by 29.3% and 15.7% year-onyear (YoY) to RM71.38 million and RM311.32 million respectively for the quarter.

Total transaction and financing volume was 5.1% YoY higher to RM1.03 billion, while financing receivables rose 16.2% YoY to RM6.88 billion.

Total operating expense ratio against revenue was lower at 59.3% compared to 63.6% previously, due to higher growth in interest income and lower increase in operating expenses, while the non-performing loans ratio was higher at 2.48% versus 2.43%.

AEON Credit expects to maintain its strong 2Q growth in the rest of the ongoing financial year.