KUALA LUMPUR: Aeon Co (M) Bhd has more than doubles its profit after tax (PAT) to RM85.3mil for the financial year ended Dec 31, 2021 (FY21) from RM41.4mil in the preceding year, driven by better margins from improved purchasing strategies and enhanced negotiations coupled with a disciplined cost management.

       The fourth quarter of 2021 (Q4’21) recorded a 161.4% jump in net profit to RM71mil compared with the same quarter in FY20.

       Adapting to the new normal in doing business, the company showed recovery for the quarter under review, registering a revenue of RM992.1mil – an increase of 8.3% from Q4’20.

       In view of the company’s performance, the board has announce a final dividend of three sen per share for FY21 (FY20:1.5 sen) which is equivalent to RM42.1mil or 49% payout ratio, for the approval of its shareholders.

       AEON managing director/chief executive officer Shafie Shamsuddin said: “We are grateful for the result which was made possible by the commitment and support from our AEON Warriors, business partners and customers.

       “AEON is committed to deliver exciting offerings across new retail operations in meeting customers’ evolving needs and buying behaviours.

       “However, we remain cautious as the balance of risks is tilted to the downside, mainly from the uncertainties surrounding Covid-19 variants, both domestically and globally.”

       Shafie: We are grateful for the result which was made possible by the commitment and support from our AEON Warriors, business partners and customers.

       As a testament of AEON’s continuous effort to digitalisation and improve its customer experience via the introduction of personal shopper, drive-through service and myAEON2go to offer a safer shopping experience, AEON has been recognised as Malaysia’s Top 10 leading brands in KPMG’s Global Customer Experience Excellence 2021 report.

       “We will continue with our digital transformation journey which has produced tangible results and further enhance the adeptness of our e-commerce platform myAEON2go to improve consumer adoption going forward.

       “Guided by our business approach of Agile, Genba and Entrepreneurial (AGE), we have implemented an enhanced cost structure with leaner organisation which is expected to further contribute towards a more sustainable bottom line.”

       “In continuing with our journey to becoming nature-positive, we are humbled to be able to integrate AEON’s three key sustainability pillars, People, Planet and Peace, into our core business activities in creating the AEON Living Zone that is seamlessly merging offline with online or OMO, which will be showcased in AEON Mall Alpha Angle in April this year,” Shafie said.

       In line with AEON Sayap Bagimu sustainability initiative for the nation, the company continues to demonstrate its commitment in championing various initiatives under its three key sustainability pillars.

       For the People pillar, the company has implemented a minimum wage increase from RM1,200 to RM1,500 per month effective Jan 1 this year, ahead of the recommended timeline by the government.

       This is a reflection of AEON’s commitment in prioritising the welfare of its employees.

       Meanwhile, for the Planet pillar, AEON Mall Taman Maluri will commence the usage of solar panel energy in March and AEON Mall Alpha Angle targeted in April with a few other projects planned for the year.

       Additionally, under the Peace pillar, the company aspires to integrate the concept of Inclusive, Digital and Experiential @ AEON or I.D.E.A. at AEON Mall Alpha Angle by offering a differentiated dimension of shopping experience coupled with sustainability initiatives such as vertical farming, recycling, e-waste management, usage of renewable energy among others.