ARB earnings rise four-fold in third quarter

ARB told the stock exchange yesterday that its net profit was recorded at RM33.59mil, as compared to RM8.4mil in the previous corresponding quarter.

PETALING JAYA: ARB Bhd’s net profit surged four-fold in the third quarter ended Sept 30, 2021, driven by revenue growth in the enterprise resource planning (ERP) and Internet of Things (IoT) segments.

In addition, its bottomline was also boosted by the increase of negative goodwill of RM21.2mil, which arose from the acquisition of a subsidiary.