JUSCO

AEON Credit Revenue Up 17.3% to HK$1,231.6 Million in FY2022, Sales Jump 32.7% and Receivables Surpass Pre-Pandemic Level Reaching Record High

Retrieved on: 
Tuesday, April 4, 2023
AEON, Insurance, Partnership, Travel, Marketing, JUSCO, App Store (iOS/iPadOS), Loan, Pandemic, Growth, Seemabaddha, Bank, Online shopping

In FY2022, the Group's revenue increased by 17.3% year-on-year to HK$1,231.6 million, and operating profit rose by 25.8% to HK$556.7 million.

Key Points: 
  • In FY2022, the Group's revenue increased by 17.3% year-on-year to HK$1,231.6 million, and operating profit rose by 25.8% to HK$556.7 million.
  • Meanwhile, profit after tax recorded a 9.1% increase to HK$373.6 million during the Reporting Year, with earnings per share rising to 89.22 HK cents (FY2021: 81.81 HK cents).
  • The fees and commissions from the credit card business also achieved significant growth, up 38.8% due to the increase in credit card sales and the 'off-us' acquiring service for AEON Stores, which contributed to the rise in revenue as well.
  • Moreover, the effectiveness of the Group's marketing, credit assessment and credit management activities are expected to improve with the support of data analytics tools.

AEON Credit Revenue of First Nine Months of FY2022/23 Up by 15.2% to HK$887.4 million following Improved Market Sentiment and Successful Mass Promotion Activities

Retrieved on: 
Wednesday, December 21, 2022
AEON, Loan, Growth, Seemabaddha, Partnership, Season, Information technology, Insurance, JUSCO, Bank

Both overseas and local consumer spending showed a progressive recovery in the three months ended 30 November 2022 (the "third quarter").

Key Points: 
  • Both overseas and local consumer spending showed a progressive recovery in the three months ended 30 November 2022 (the "third quarter").
  • The overall increase in sales and revolving credit card and personal loan balances drove a solid increase in interest income, and thus growth in revenue.
  • Regarding sustainable development, the Group has established a sustainability-linked loan framework and entered into agreements for sustainability-linked loans (the "Loans").
  • The Group will launch various mass promotion activities in the fourth quarter to stimulate sales growth during festival seasons and meet customers' needs during the tax season.

AEON Credit 1H2022 Revenue Up by 11.8% to HK$571.7 Million

Retrieved on: 
Monday, September 26, 2022
AEON, Motherboard, Income, TSE, Group, ESG, Seemabaddha, COVID-19, Face, Growth, Climate change, Stock exchange, Government, Æon Group, Guangdong-Hong Kong-Macau Greater Bay Area, US, Board, Overalls, Marketing, JUSCO, Property management, Online shopping, Mainland China

HONG KONG, Sept 26, 2022 - (ACN Newswire) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its interim results for the six months ended 31st August 2022 ("1H2022" or the "reporting period").

Key Points: 
  • HONG KONG, Sept 26, 2022 - (ACN Newswire) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its interim results for the six months ended 31st August 2022 ("1H2022" or the "reporting period").
  • During the reporting period, the Group's revenue was up by 11.8% year-on-year to HK$571.7 million and profit after tax increased by 2.6% to HK$176.8 million, with earnings per share rising to 42.21 HK cents (1H2021: 41.15 HK cents).
  • With an increased in the overall sales and receivables balance, the Group recorded an increase in interest income of 10.4% to HK$479.7 million 1H2022.
  • The solid growth in revenue was also attributable to a 30.8%, or HK$14.0 million, increase in overall fees and commissions, which was driven by the continued increase in credit card sales throughout 1H2022 and the launch of the acquiring service for AEON Stores in the second half of the previous financial year.

AEON Credit (00900) FY2021 Profit Up by 13.6% to HK$342.6 Million

Retrieved on: 
Wednesday, April 6, 2022
AEON, JUSCO, Æon Group, Seemabaddha, Group, Marketing, Growth, Motherboard, Board, Guangdong-Hong Kong-Macau Greater Bay Area, Shenzhen, Stock exchange, COVID-19, Income, Policy, Solution, TSE, Bank, Online shopping

HONG KONG, Apr 6, 2022 - (ACN Newswire) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its annual results for the year ended 28 February 2022 ("FY2021").

Key Points: 
  • HONG KONG, Apr 6, 2022 - (ACN Newswire) - AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced its annual results for the year ended 28 February 2022 ("FY2021").
  • For FY2021, the Group's revenue reached HK$1,049.6 million (FY2020: HK$1,089.9 million) and profit increased by 13.6% year-on-year to HK$342.6 million.
  • The profit growth was owed to the Group's efforts in building a quality credit portfolio with improved credit assessment techniques and enhancing debt management capabilities, which led to a significant 55.4% drop in impairment losses and impairment allowances to HK$94.1 million.
  • With an increase in credit card sales and launch of the Off-us Acquiring Service for AEON Stores, the Group recorded an overall increase in fees and commissions of HK$26.4 million to HK$103.4 million for the year, which also contributed to the profit growth.

AEON Credit Service Launches Various Credit Card Offers Joins Hands with Customers to Fight Pandemic and Welcome Chinese New Year Peak Shopping Season

Retrieved on: 
Tuesday, January 18, 2022
AEON, Æon Group, Chinese New Year, Eating, Group, HKEX, The Group, JUSCO, Seemabaddha, Motherboard, Stock exchange, TSE, Online shopping

HONG KONG, Jan 18, 2022 - (ACN Newswire) - AEON Credit Service (Asia) Limited ("AEON Credit Service" or the "Group"; stock code: 00900) has launched a number of credit card offers to help customers cope with the new wave of the pandemic as well as welcome the traditional Chinese New Year shopping season.

Key Points: 
  • HONG KONG, Jan 18, 2022 - (ACN Newswire) - AEON Credit Service (Asia) Limited ("AEON Credit Service" or the "Group"; stock code: 00900) has launched a number of credit card offers to help customers cope with the new wave of the pandemic as well as welcome the traditional Chinese New Year shopping season.
  • AEON Credit Service has always put customers first and is committed to providing the most suitable offers to ensure a superior user experience.
  • In addition, AEON credit card customers can earn extra bonus points when making purchases at AEON Stores.
  • Customers can enjoy 2X bonus points when making purchases at AEON Stores with AEON Credit Card and 3X bonus points with AEON Card Premium.

AEON Credit Announces Net Profit For the First Nine Months of FY2021/22 Up by 5.6% to HK$243.3 Million Through Successful Promotion Programs and Healthy Credit Portfolio

Retrieved on: 
Thursday, December 23, 2021
AEON, Stock exchange, Æon Group, HKEX, Mainland, TSE, Motherboard, Unemployment, Guangdong-Hong Kong-Macau Greater Bay Area, Group, Seemabaddha, JUSCO, Bank, Online shopping

Despite the unprecedented headwinds from the pandemic, the launch of various promotion programs to capture recovering credit card spending, resulted in sales for the nine months of FY2021/22 increasing by 21.0% year-on-year.

Key Points: 
  • Despite the unprecedented headwinds from the pandemic, the launch of various promotion programs to capture recovering credit card spending, resulted in sales for the nine months of FY2021/22 increasing by 21.0% year-on-year.
  • However, this surge in credit card sales had yet to start pushing revolving credit card balances and personal loan receivables back up to pre-pandemic level.
  • Nonetheless, due to continuous efforts to refine its credit assessment process, the Group has built a healthy credit portfolio.
  • Consequently, the Group's profit after tax rose to HK$243.3 million, representing an increase of 5.6%.