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KUALA LUMPUR (February 15): ARB Bhd’s net earnings for the fourth quarter ended December 31, 2020 (4QFY20) grew 54.4% to RM19.74 million from RM12.79 million a year ago , thanks to an increase in income.
In a stock presentation today, the firm said its quarterly revenue increased 61.03% to RM72.46 million from RM45 million a year ago due to contributions from the Enterprise Resource Planning (ERP) and Internet of Things ( IoT) of RM69.85 million and RM2.61 million respectively.
He said that the ERP segment is involved in designing and reselling custom ERP solutions, while the IoT segment is involved in system-integrated solutions.
However, earnings per share fell slightly to 4.34 sen from 4.41 sen in 4QFY19.
For the full year, the group’s net profit increased 25% to RM4.46 million from RM34.77 million a year earlier, while revenue soared 114% to RM219.45 million from RM 102. , 64 million ringgit.
The board of directors did not recommend dividends for the quarter under review, the ARB said.
On its outlook, ARB said that the ERP and IoT segments are expected to contribute impressive future earnings as they will continue to grow and contribute profits to the group.
At the 12:30 pm break, ARB shares rose 1.5 sen or 5.45% to 29 sen, with about 5.44 million shares made. This gave the group a market capitalization of RM132.62 million.
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