KUALA LUMPUR: MN Holdings Bhd
’s net profit nearly doubled to RM92.14mil for the financial year ended June 30, 2026 (FY26), from RM47.75mil a year earlier, driven by stronger contributions from its substation engineering segment.
Revenue in FY26 jumped 60.8% to RM869.19mil from RM540.45mil, while earnings per share rose to 14.31 sen from 9.20 sen previously.
The infrastructure utilities construction and engineering solutions specialist said its substation engineering segment recorded revenue of RM766.46mil, more than double the RM360.38mil achieved in FY25.
The segment accounted for about 88% of group revenue, with underground utilities engineering contributing the remainder.
Gross profit rose about 51% to RM174.83mil from RM115.43mil, while net impairment losses on financial assets and contract assets declined to RM9.50mil from RM14.02mil.
Excluding one-off share-based compensation expenses and net impairment losses, normalised pre-tax profit increased 69% to RM141.63mil from RM83.74mil.
For the fourth quarter, MN Holdings’ net profit almost doubled to RM23.98mil from RM12.06mil a year earlier, while revenue rose 17.9% to RM211.47mil from RM179.42mil.
The stronger quarterly performance was mainly driven by the substation engineering segment, where revenue increased 24% to RM180.2mil on higher work progress and increased project activities. Underground utilities engineering contributed RM31.2mil.
Managing director Datuk Clement Toh said FY26 marked another year of growth for the group, supported by continued progress and execution of its ongoing projects.
“Malaysia’s continued investment in power infrastructure, coupled with rising electricity requirements from data centres and high-tech industries, provides a supportive operating environment for the group.
“At the same time, we continue to see opportunities across underground utilities and water infrastructure, which complement our established capabilities,” he said in a statement.
As at June 30, 2026, MN Holdings’ order book stood at about RM1.64bil, comprising projects in power infrastructure, data centre-related works, renewable energy, underground utilities and other infrastructure segments.
