KUALA LUMPUR (Feb 15): ARB Bhd’s net profit for the fourth quarter ended Dec 31, 2020 (4QFY20) grew 54.4% to RM19.74 million from RM12.79 million a year ago, on the back of a surge in revenue.

In a bourse filing today, the firm said its quarterly revenue climbed 61.03% to RM72.46 million from RM45 million a year ago due to contributions from enterprise resource planning (ERP) and Internet of Things (IoT) segments of RM69.85 million and RM2.61 million respectively.

It said the ERP segment is involved in designing and reselling of customised ERP solutions, whereas the IoT segment is involved in integrated solutions in system.

However, earnings per share dropped slightly to 4.34 sen from 4.41 sen in 4QFY19.

For its full year, the group’s net profit rose 25% to RM43.46 million from RM34.77 million in the previous year, while revenue soared 114% to RM219.45 million from RM102.64 million.

No dividend has been recommended by the board of directors for the quarter under review, noted ARB.

On its prospects, ARB said the ERP and IoT segments are expected to contribute impressive future earnings as they will continue growing and contribute profit for the group.

At the 12.30pm break, shares of ARB were 1.5 sen or 5.45% higher at 29 sen, with some 5.44 million shares done. This gave the group a market capitalisation of RM132.62 million.