Newsroom
16 Jun 2020
The Edge : RCE's FY20 net profit increases to RM110.58 mil
 
RCE's FY20 net profit increases to RM110.58 mil

Bernama


KUALA LUMPUR (June 16): RCE Capital Bhd’s net profit for the financial year ended March 31, 2020 increased to RM110.58 million from RM95.53 million in the previous financial year.

Revenue rose to RM282.61 million from RM262.57 million previously, the group said in a filing with Bursa Malaysia today.

It said the better performance was largely supported by higher net interest/profit income, partially offset by lower fee income arising from the sale of competitive products and campaigns to boost disbursements.

“The group is cognisant of the economic downturn and market uncertainty arising from the Covid-19 pandemic. Hence, more sales campaigns will be launched to targeted customers in order to sustain business growth without compromising portfolio quality.

“Notwithstanding the above, the group will closely monitor the impact on its business operations, cash flows and financial results. As such, we maintain a cautious outlook and expect to remain profitable in the next financial year,” it said.