ARBB active, jumps 8.49% on returning to the black with record earnings

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KUALA LUMPUR (May 2): Shares in ARB Bhd (ARBB), formerly known as Aturmaju Resources Bhd jumped 8.49% in active trade this morning after it returned to the black with a record quarterly net profit of RM5.08 million for the three months ended March 31, 2019 (1QFY19) compared to a net loss of RM649,000 it posted a year prior. This is as revenue surged to its highest since 2015, at RM12.43 million in 1QFY19, from RM79,000 a year ago.

At 9.20am, ARBB rose 4.5 sen to 57.5 sen with 25 million shares traded.

Separately, it announced it had inked a share sale agreement yesterday to dispose of two loss-making indirect units under the company's non-operating timber business, which will result in an estimated gain of about RM3.61 million.