AEON's 1Q net profit surges nearly threefold to RM22m on imp

AEON's 1Q net profit surges nearly threefold to RM22m on improved margin and stringent cost control
The Edge
6 hrs ago
Tan Siew Mung
© Provided by The Edge
KUALA LUMPUR (May 19): Despite a drop in revenue, AEON Co (M) Bhd's net profit for the first quarter (1Q) ended March 31, 2021 jumped by nearly threefold to RM22.03 million, from RM7.47 million a year ago.
The better earnings were due to an improvement in merchandise gross margin, changes in marketing mechanics, and stringent cost control measures, the group said in a filing with Bursa Malaysia.
AEON said quarterly revenue fell 14.89% to RM1.01 billion, from RM1.19 billion previously.

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