Bangkok, July 7, 2017 - Mr.Kiyoyasu Asanuma, Managing Director of AEON Thana Sinsap (Thailand) Public Company Limited (AEONTS) – Thailand’s consumer finance business leader – recently announced the financial results for the 1st quarter ended May 31, 2017, with the net profit attributable to owners of the parent of 618 million baht or EPS of 2.47 baht per share.
In the 1st quarter 2017, the Company reported revenues of 4,389 million baht, same level as last year. Main business generated from credit card 37%, loans 52%, hire purchase 2%, and others 9%, respectively. Meanwhile total expenses recorded at 3,634 million baht, decreased 40 million baht or 1% y-y, as a result of a decline in bad debt and doubtful accounts and finance cost. Consequently, net profit in the first three month of 2017 recorded at 618 million baht, increasing 20% y-y and 26% q-q if exclude gain on sale of written off account receivables in 4Q/2016.
The Thai economy the 1st quarter 2017 expanded by 3.3%, improving from 4Q/2016, as a result of the recovery of export sector and household consumption, as well as an expansion of farm income. Meanwhile, private investment continued to decline. However, the Company has focused on promotional activities and also organized jointly with leading business partners. In May 2017, the Company cooperated with Big C Supercenter Public Company Limited to launch the Big C Platinum payWave Credit Card and Big C Exclusive Card, which offering privileges under the concept “Daily happiness for shopping at Big C”. The Big C Platinum payWave Credit Card offers special discount of 3% to our cardholders when spending at Big C Supercenter and also enjoy 0% interest rate for 6 months installment payment with AEON Happy Plan when purchasing electrical appliances. The Big C Exclusive Card offers exclusive privileges to cardholders get special interest rate at 0% for 3 months installment payment or 0.59% interest rate for 18 months installment payment with AEON Purpose Loan when purchasing electrical appliances.
As at May 31, 2017, The Company’s credit cards and member cards were 7.87 million cards. Covering networks nationwide, the Company has 110 branches, 468 ATMs, and over 17,500 member dealers to provide quality financial services to AEON cardholders.