PETALING JAYA: UUE Holdings Bhd, an underground utilities engineering solutions provider, saw its net profit more than double in the fourth quarter ended Feb 28, 2026, rising 122.1% to RM7.64 million from RM3.44 million a year earlier, driven by stronger execution across its core segments and higher contributions from Singapore projects.
Revenue rose 40.4% year-on-year to RM58.89 million from RM41.95 million, underpinned by improved performance in its core underground utilities engineering segment and HDPE pipe manufacturing, which grew 34.6% and 101.6%, respectively.
Singapore-related projects were a key contributor, with revenue surging eight-fold to RM9.5 million from RM1.1 million a year ago, despite a weaker Singapore dollar.
Gross profit increased 77.8% to RM16.1 million, while profit after tax (PAT) rose 118.8% to RM7.5 million, supported by a better regional project mix.
For the full financial year, net profit fell 58.17% to RM9.61 million from RM22.97 million in FY2025, mainly due to one-off employee share option scheme (ESOS) expenses of RM12.5 million.
Revenue for the year increased 22.9% to RM209.02 million from RM170.02 million, driven primarily by the underground utilities engineering segment, which grew 26.5% and accounted for 89.3% of total revenue.
HDPE pipe manufacturing contributed about 10% of revenue, while the remainder came from a new stream, the engineering, procurement, construction and commissioning (EPCC) of solar photovoltaic systems.
Gross profit rose 11.3% to RM52.3 million, reflecting improved execution efficiency. Excluding ESOS expenses, adjusted PAT stood at RM21.7 million for FY2026.
The group’s order book remained at RM536.4 million, providing earnings visibility.
UUE has secured two subsea horizontal directional drilling contracts, marking its expansion into the segment, and its first EPCC contract for a 33kV and low-voltage electrical supply system, signalling entry into the mechanical and electrical segment.
Managing director Datuk Dr Ting Kok Hwa said the results were bolstered by improved execution in the core underground utilities engineering segment in both Malaysia and Singapore.
“We are particularly encouraged by the turnaround in our Singapore operations this quarter as project activities gained momentum and on-the-ground execution ramped up,” he said in a statement
Looking ahead, Ting said the group remains cautiously optimistic amid ongoing geopolitical tensions, while continuing to focus on execution excellence and replenishing its order book to support long-term growth.
