KUALA LUMPUR: Able Group’s net profit jumped 37.1% to RM19.32mil in the first quarter ended March 31, 2026 (1Q26), driven by stronger contributions from its food & beverages (F&B) segment and improved performance from its joint venture in Mexico.
Earnings per share rose to 6.28 sen in 1Q26 from 4.58 sen in 1Q25.
Quarterly revenue rose 14.7% to RM180.73mil from RM157.5mil a year earlier, mainly driven by higher demand across the tin cans manufacturing and F&B segments.
Able Group has declared a first interim dividend of 2.0 sen per ordinary share for the financial year ending Dec 31, 2026.
The payment date and book closure date for the interim dividend will be determined at a later date.
"We are pleased to have started FY26 on a positive note despite the escalation of the US-Iran conflict in late February 2026 caused severe disruptions to the Strait of Hormuz, driving up freight costs and commodity price volatility across many industries,” Able Group said in a statement.
The group said its tin cans manufacturing and F&B segments remained the key pillars of performance, supported by firm customer demand and efficient operations despite rising input costs and foreign exchange volatility.
On the property development front, Able Group said infrastructure works at its Kapar land have commenced and are expected to progressively contribute to revenue, while development plans for its Carey Island land are pending approval from the relevant authorities.
“Our joint venture in Mexico, Able Dairies Mexico SAPI de CV, performed strongly this quarter, with share of profit rising to RM3.84mil from RM980,000 in 1Q25.
“The performance of our Mexico operations has been steadily improving and contributing positively to the group's overall earnings, supported by healthy domestic dairy consumption and growing demand in the Mexican market. We remain focused on growing this business and delivering long-term value for our shareholders,” it said.
