Aturmaju returns to the black with small profit


KUALA LUMPUR: Aturmaju Resources Bhd (ARB) bounced back into profitability for the financial year ended December 31, 2018 (FY18), after delivering its strongest set of results in a decade.

According to a Bursa Malaysia filing, ARB registered a net profit of RM4.2mil in FY18, compared to a net loss of RM3.6mil in the previous financial year. 

This was mainly attributed to the group’s IT segment, which contributed RM6.9mil or 99% of revenue during the fourth quarter.

Total revenue for FY18 amounted to RM15.3mil, representing a 33% year-on-year increase.

In a press release on Tuesday, ARB CEO (Investment & Technology) Datuk Larry Liew said, “The ‘best-ever’ figures in the span of 10 years was boosted by our newly acquired Information Technology (IT) business. “The remarkable achievement this year reflects the hard work and commitment of the management team and all employees here at ARB.

“Going forward, we expect to maintain the earnings growth trajectory, as it will be supported by our yearly-recurring income business such as the Enterprise Resources Planning (ERP) with YESS that was announced in January 2019, as well as other IT and Internet of Things (IoT) related contracts that we are confident of securing in 2019.”

On January 24, 2019, ARB finalised its business contract with Yes’s Comm. Enterprise Sdn Bhd (YESS), which is expected to contribute an estimated RM20mil to ARB’s topline.

Get 30% off with our ads free Premium Plan

Monthly Plan

RM9.73/month

Annual Plan

RM8.63/month

Billed as RM103.60/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Aturmaju

   

Next In Business News

CIMB’s succession planning coming into sharp focus
Setting an upbeat tone
Sime Darby Property banking on good prospects continuing
Strong earnings visibility for Matrix Concepts
Japan takes Taiwan’s helping hand in chip ops
Quebec pension hit with real estate loss as ‘hostile’ market persists
TRX takes the spotlight
Central Europe shoppers still shell-shocked
UMWT to drive green mobility growth
Soul-searching for ringgit solutions

Others Also Read