AEONTS’ FS2019 Shows 18% Growth from Business Revenue and Bad Debt Recovery

AEON Thana Sinsap (Thailand) Public Company Limited (AEONTS) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In the fiscal year ended February 28, 2019, consolidated operating income was reported at 4,434 million baht, showing an increase of THB 720 million or 19% YoY. AEONTS recorded a high net profit of THB 3,506 million, an increase of THB 540 million or 18% from the previous fiscal year, and earning per share was ฿14.03/share.

The increase was mainly from an increase in core business revenues, a growth of income from bad debt recovery and accounts receivable as well as a strong growth from both domestic and overseas businesses.

In addition, in FY2018, AEONTS recorded the share of profit from investment in ACS Trading Vietnam Co., Ltd. of THB 5.6 million, increased more than 5 times from last year. Net profit in the fourth quarter of 2018 was THB 817 million, a decrease of THB 111 million or 12% from last year. Therefore, if excluding the expenses of provision for employee’ retirement benefits, loss on impairment of assets in the fourth quarter of 2018 and gain on sale of written off account receivables last year, our net profit in the fourth quarter of 2018 increased 3% QoQ and 23% YoY.