Aeon result surges 55pc

Aeon Credit Service (Asia) Co has reported a strong first half, with net profits surging 55.5 per cent to $34.21 million as turnover jumped 37.3 per cent to $153.27 million.

Earnings per share for the six months to August 20 increased to 10.26 cents from 8.8 cents a year earlier. The company recommended an interim dividend of 2.5 cents a share.

There was no payout in the same period last year.

Managing director Kazuhide Kamitani attributed the result to rapid growth in the credit card business and an improvement in bad debt margin.

Credit card business generated 84 per cent of the turnover while vehicle loans accounted for 11 per cent.

The remainder was from personal loans and hire purchase, general manager Derek Lai said.