ARB posts big jump in 4Q profit

ARB posts big jump in 4Q profit
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KUALA LUMPUR (Feb 6): ARB Bhd, formerly known as Aturmaju Resources Bhd, saw its net profit jump 157.15% to RM12.79 million for the fourth quarter ended Dec 31, 2019, from RM4.96 million a year earlier.

In a filing with Bursa Malaysia, ARB said the improved performance was driven by its information technology business, which contributed 100% of its total revenue.

Revenue for the quarter also grew more than six times to RM45 million from RM6.92 million a year ago.

For its full-year, the group’s net profit surged by seven times to RM34.77 million from RM4.23 million in the previous year, while revenue rose by six times to RM102.64 million from RM15.26 million.

ARB’s share price rose three sen or 12.24% higher to close at 27.5 sen, bringing the group a market capitalisation of RM80.48 million. The group saw some 6.43 million shares done.