Gas Malaysia's Q2 profit plunges 26.8pct to RM72.5mil
KUALA LUMPUR: Gas Malaysia Bhd logged a lower net profit of RM72.52 million for the second quarter ended June 30, 2026 a decrease of 26.8 per cent from RM99.12 million the same period last year.
Gas Malaysia Bhd reported a 26.8% decline in net profit for the second quarter ending June 30, 2026, to RM72.52 million, down from RM99.12 million in the same quarter last year. The company's revenue also fell 12.1% to RM1.58 billion, compared to RM1.80 billion in the previous year. This decline in profits was primarily due to a lower average natural gas selling price, which was partially offset by an increase in the volume of natural gas sold.
Gas Malaysia announced a first interim dividend of five sen per share, amounting to RM64.20 million for the fiscal year ending December 31, 2026, payable on November 6. For the six months ending June 30, 2026, the company's net profit declined 17% to RM165.36 million, while revenue dropped 12.9% to RM3.17 billion. Gas Malaysia emphasized its commitment to operational efficiency, cost discipline, and strengthening its competitive position, as per the GM32 Transformation Programme.
The company aims to explore new business opportunities to drive sustainable growth in the medium to long term, despite potential near-term investments and expenditures. The board anticipates satisfactory financial performance for the fiscal year ending December 31, 2026, while being mindful of the current economic and market uncertainties.
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