Title: ARB posts record profit of RM8.6mil in 2Q19
KUALA LUMPUR: ARB Bhd posted a record net profit of RM8.61mil in the second quarter ended June 30, compared with a net loss of RM271,000 in the same quarter last year, due to stronger revenue from its IT segment.
Its revenue for the quarter jumped 153% RM11.28mil against RM4.45mil from a year ago.
In the first six months, ARB posted a net profit of RM13.68mil on revenue of RM23.7mil.
“Our record-breaking results speak for themselves, demonstrating that ARB has continued the forward momentum of a very strong FY2018.
“We are very confident that FY2019 will be another record year for ARB, driven by the continued high demand for our IT solutions in the areas of enterprise resource planning system and Internet of Things intelligent lifestyle concept,” CEO (Investment & Technology) Datuk Larry Liew Kok Leong said in a statement.
“Our profit in 2QFY2019 is generated from our recurring-income business model, which I believe has reflected in three consecutive quarters. With a market capitalisation of less than RM50mil, I strongly believe ARB is undervalued by the investing community,” Liew added.
ARB has undertaken a slew of corporate measures recently to revamp and restructure the company’s branding, operations and management, in view of ARB’s upgraded long-term business aspirations.
With effect from April 22, the company has adopted its current name of ARB, which was formerly known as Aturmaju Resources Bhd to reflect its new corporate identity and greater plans for the company.
Sources from https://www.thestar.com.my