AEON's 1Q net profit surges nearly threefold to RM22m on improved margin and stringent cost control

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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