KUALA LUMPUR: Tex Cycle Technology (M) Bhd
is accelerating its expansion across key growth areas as it seeks to broaden its capabilities and capture more opportunities across the environmental solutions value chain.
Group chief executive officer Gary Dass Anthony Francis said Tex Cycle is broadening its environmental solutions business as it seeks to capture new growth opportunities.
“Moving forward, we are accelerating our expansion across several key growth areas, including high-value waste by-product processing and production through Meridian World Sdn Bhd, BiobiN, and compost production for the treatment and recovery of organic waste, as well as oil and gas waste treatment capabilities at our Telok Gong facility.
“Together with strategic collaborations such as Anggun Kitar Resources Sdn Bhd, we are broadening Tex Cycle’s capabilities and positioning the Group to capture a wider range of opportunities across the environmental solutions value chain,” he said in a statement.
In the second quarter ended June 30 (2Q26), the waste management and recycling solutions provider posted a higher net profit of RM3.15mil, or earnings per share of 1.16 sen, lifting its first-half net profit by 29.5% to RM6.7mil, or 2.48 sen per share.
Quarterly revenue nearly tripled to RM24.2mil, bringing first-half revenue to RM44.8mil, about 2.5 times the year-ago level.
Gary said the group was encouraged by the strong momentum recorded in the second quarter, with both revenue and pre-tax profit improving year-on-year and quarter-on-quarter.
“The significant growth of our recovery and recycling division, together with Meridian’s contribution, demonstrates the strength of our expanded platform and reinforces our confidence in the growth opportunities ahead.”
