Quick take: ARB rises 9%, most active on Bursa

KUALA LUMPUR: Shares in ARB Bhd were hotly traded this morning with over 43 million shares exchanging hands, making it the most actively traded counter on Bursa Malaysia.

The wood products manufacturer and IT business solutions provider rose 9.09%, or 2.5 sen to 30 sen, its highest since mid January. ARB-PA added 23.53%, or two sen to 10.5 sen.

ARB’s net profit jumped 157.15% to RM12.79mil for the fourth quarter ended Dec 31, 2019, from RM4.96mil a year earlier.

The company attributed the improved performance was driven by its information technology business, which contributed 100% of its total revenue.

Revenue for the quarter also grew more than six times to RM45mil from RM6.92mil a year ago.

For its full-year, the group’s net profit surged to RM34.77mil from RM4.23mil in the previous year, while revenue rose to RM102.64mil from RM15.26mil.

Source: TheStar