Tex Cycle's Q2 earnings rise 20pct, revenue up 5.0pct
Its revenue increased five per cent to RM8.6 million from RM8.3 million, driven by stronger contributions from its trading and renewable energy segments.
For the six months to June 30, 2025, the company recorded revenue of RM17.5 million, representing an eight per cent growth compared to RM16.3 million in the corresponding period last year.
Group chief executive officer Gary Dass A/L Anthony Francis said the first-half performance underscored the resilience of Tex Cycle's core operations.
He added that with the completion of the Meridian World acquisition, the company is venturing into the e-waste segment, a rapidly expanding and highly specialised niche within the scheduled waste management industry.
"In addition, our Tex Cycle (P2) Sdn Bhd's 2MW biomass gasification power plant successfully completed the initial operation date test with Tenaga Nasional Bhd and is now undergoing the power quality measurement test.
"With these strategic developments, we are confident of further strengthening our capabilities, enhancing sustainable income streams, and unlocking greater value for our stakeholder," he added.
Tex Cycle's shares ended the day at RM1.11, giving the company a market value of RM312.1 million.
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New Straits Times
5 hours ago
- New Straits Times
Tex Cycle's Q2 earnings rise 20pct, revenue up 5.0pct
KUALA LUMPUR: Waste management and recycling solutions provider Tex Cycle Technology (M) Bhd posted a net profit of RM3.02 million for the second quarter ended June 30, 2025, up 20.5 per cent from RM2.50 million a year ago. Its revenue increased five per cent to RM8.6 million from RM8.3 million, driven by stronger contributions from its trading and renewable energy segments. For the six months to June 30, 2025, the company recorded revenue of RM17.5 million, representing an eight per cent growth compared to RM16.3 million in the corresponding period last year. Group chief executive officer Gary Dass A/L Anthony Francis said the first-half performance underscored the resilience of Tex Cycle's core operations. He added that with the completion of the Meridian World acquisition, the company is venturing into the e-waste segment, a rapidly expanding and highly specialised niche within the scheduled waste management industry. "In addition, our Tex Cycle (P2) Sdn Bhd's 2MW biomass gasification power plant successfully completed the initial operation date test with Tenaga Nasional Bhd and is now undergoing the power quality measurement test. "With these strategic developments, we are confident of further strengthening our capabilities, enhancing sustainable income streams, and unlocking greater value for our stakeholder," he added. Tex Cycle's shares ended the day at RM1.11, giving the company a market value of RM312.1 million.
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Tex Cycle group CEO Gary Dass Anthony Francis KUALA LUMPUR: Tex Cycle Technology (M) Bhd 's net profit rose 20.6% in the second quarter ended June 30 (2Q25) to RM3.02 mil, up from RM2.5 mil in the same quarter last year. This translates to earnings per share of 1.15 sen in 2Q25, compared with 0.99 sen a year earlier. The waste management and recycling solutions provider's revenue increased to RM8.6 mil from RM8.2 mil, supported by contributions across its trading and renewable energy divisions. For the first six months to June 30, Tex Cycle posted a net profit of RM5.2mil, down 43.2% from RM9.1mil while revenue climbed to RM17.5mil against RM16.2mil last year. Group chief executive officer Gary Dass Anthony Francis said the company is pleased with its resilient performance for the first half of the year, which reflects the strength of its core operations and disciplined investment strategies. 'With the successful completion of the Meridian World acquisition, Tex Cycle is now expanding into the e-waste segment, a fast-growing and highly specialised area within the scheduled waste management sector. 'Meridian World's established track record of approximately 30 years and strong expertise in specialised waste streams, including chemical waste and niche waste codes such as e-waste, positions us better to capture this market and strengthen our presence across industries,' he said in a statement. Additionally, Francis said that on July 29, 2025, Tex Cycle (P2) Sdn Bhd's 2MW biomass gasification power plant completed the initial operation date (IOD) test with Tenaga Nasional Bhd (TNB) and is currently undergoing the power quality measurement test. 'With these strategic developments, we are confident of further strengthening our capabilities, enhancing sustainable income streams, and unlocking greater value for our stakeholder,' he said.
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