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.