KUALA LUMPUR: Aeon Co (M) Bhd, which posted a 161% jump in net profit to RM70.98mil in the fourth quarter ended Dec 31, 2021 (4Q21), has proposed a final dividend of three sen per share.

       Aeon said the dividend was equivalent to RM42.1mil or 49% payout ratio. The dividend is subject to the approval of the shareholders.

       It added that the proposed entitlement and payment dates for the final dividend shall be determined at a later date and announced accordingly.

       In 4Q21, the retailer posted revenue of RM992.1mil, up 8.25% from RM916.49mil a year ago.

       For the full year, Aeon’s net profit doubled to RM85.29mil against RM41.42mil in the preceding year, driven by better margins derived through improved purchasing strategy and enhanced negotiations coupled with disciplined cost management.

       Revenue, however, fell 10.4% to RM3.63bil from RM4.05bil a year ago.

       “Aeon is committed to delivering 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,” managing director/chief executive officer Shafie Shamsuddin said in a statement.

       He said the group would continue its digital transformation journey which have produced tangible results and further enhance the adeptness of its 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 a leaner organisation which is expected to further contribute towards a more sustainable bottom line,” he added.