PETALING JAYA: UUE Holdings Bhd’s net profit for the first quarter ended May 31, 2026 (Q1’27) jumped more than fivefold to RM9.04 million from RM1.69 million a year ago, driven by robust growth in its underground utilities engineering solutions business and improved margins from its Singapore operations.
Revenue surged 88.9% to RM61.19 million from RM32.40 million previously, supported by higher contributions from its core underground utilities engineering solutions segment, stronger sales of high-density polyethylene (HDPE) pipes and the maiden contribution from its engineering, procurement, construction and commissioning (EPCC) of solar photovoltaic (PV) systems business.
Profit before tax rose to RM11.58 million from RM2.65 million a year earlier. Excluding a one-off RM225,000 employee share option scheme (ESOS) expense, adjusted profit before tax stood at RM11.81 million, up 353.8% year-on-year. Adjusted net profit increased 447.1% to RM9.27 million.
The underground utilities engineering solutions segment remained the group’s main growth driver, with revenue climbing 96.1% to RM55.10 million from RM28.11 million. Revenue from the HDPE pipes business increased 39.5% to RM5.96 million, while the solar PV EPCC segment contributed RM128,000 during the quarter.
Geographically, Malaysia remained the group’s largest market with revenue of RM51.29 million, while Singapore’s contribution rose sharply to RM9.90 million from RM1.08 million a year earlier.
Compared with the preceding quarter, revenue rose 3.9% from RM58.89 million, while net profit increased 20.2% from RM7.53 million, supported by higher construction activities in both Malaysia and Singapore.
Looking ahead, UUE said it remains optimistic about prospects in the energy and utilities sectors in Malaysia and Singapore, citing Tenaga Nasional Bhd’s planned RM42.8 billion capital expenditure between 2025 and 2027 and continued strength in Singapore’s construction sector. The group’s order book stood at RM515.2 million, comprising ongoing and secured projects in both markets, providing earnings visibility going forward.
The board did not recommend any dividend for the quarter.
