KUALA LUMPUR: BWYS Group Bhd’s net profit surged more than nine-fold to RM24.6mil in the first quarter ended March 31, 2026 (1Q26), from RM2.6mil a year earlier.
The sheet metal products manufacturer and scaffoldings supplier said the performance was supported by a RM38.4mil gain on disposal of assets held for sale.
This was partially offset by an allowance for impairment losses on inventories amounting to RM6.3mil, bad debts written off totalling RM1.3mil, as well as a one-off non-recurring real estate agency fee of RM1.3mil incurred in relation to the disposal of assets held for sale during the period under review.
Quarterly revenue rose 10.1% to RM63.1mil in 1QFY26, from RM57.3mil recorded in the corresponding quarter last year. Its earnings per share for the quarter rose to 2.40 sen versus 0.26 sen previously.
BWYS said the higher revenue was mainly driven by stronger contributions from its manufacturing of sheet metal products segment and trading of steel and related products segment.
However, gross profit margin moderated to 15.9% from 21.7%, mainly due to lower contribution from the scaffolding business segment.
Moving forward, BWYS aims to move further up the steel value chain through its planned expansion into the colour coating industry, marking a strategic step into higher value-added steel solutions.
Managing director Kang Beng Hai said the Malaysian construction sector remains supportive, driven by ongoing infrastructure, industrial, logistics and building activities.
He said the group expects continued demand for its roofing sheets, trusses, industrial racking systems, scaffolding and related products, supported by sustained domestic project activity.
“Our new factory in Penang is expected to commence operations soon, alongside the rollout of our new colour coating production line. This is expected to enhance our production capacity, improve operational efficiency and broaden the group’s product offerings,” he said.
Kang said the colour coating process represents a value-added enhancement to the group’s existing steel-related products and services.
He added that by combining BWYS’ manufacturing platform and market access with its partners’ technical expertise, the proposed joint venture is expected to enhance the group’s competitiveness and contribute positively to future earnings upon successful implementation.
“Moving forward, we will continue to maintain discipline in cost management, inventory planning and operational efficiency to navigate raw material price fluctuations and competitive market conditions,” Kang said.
