KUALA LUMPUR: Swift Energy Technology Bhd’s net profit more than tripled to RM5.07mil in the third quarter ended June 30, 2026 (3QFY26), from RM1.62mil a year earlier, driven by stronger project execution and a favourable project mix.
Quarterly revenue jumped 94.4% to RM23.7mil from RM12.2mil in the previous corresponding quarter while earnings per share climbed to 0.52 sen against 0.17 sen in the year ago quarter.
The industrial automation, electrical and energy solutions provider said gross profit rose 58.1% to RM11.22mil from RM7.10mil, although its gross profit margin narrowed to 47.3% from 58.2% due mainly to the mix of projects recognised during the quarter.
“The group attributed the stronger showing to higher revenue across its manufacturing, engineering services and trading segments, lower administrative expenses, and the reclassification of crystallised unrealised foreign exchange losses under other expenses,” Swift Energy said in a statement.
The group said earnings were also supported by the completion of several higher-margin projects during the quarter.
Chief executive director Tan Bin Chee said the improvement reflected the group’s ability to translate higher project activity into earnings while maintaining cost discipline.
“The 213% increase in net profit was driven not only by stronger revenue but also by the contribution from selected higher-value projects completed during the quarter,” he said.
For the nine months ended June 30, 2026 (9MFY26), Swift Energy’s net profit rose 29% to RM11.7mil from RM9mil a year earlier.
Revenue was broadly flat at RM70.07mil compared with RM69.7mil previously.
Manufacturing remained the group’s largest revenue contributor at RM49.61mil, followed by trading at RM17.29mil and engineering services at RM3.17mil.
By geography, Malaysia accounted for RM29.03mil, or about 41%, of nine-month revenue, while Singapore contributed RM26.29mil, or about 38%. China and Thailand contributed RM7.20mil and RM5.43mil, respectively.
Tan said the nine-month performance reflected improvements in earnings quality despite modest revenue growth, supported by better project selection, margins and cost management.
Looking ahead, Swift Energy said it remained cautiously optimistic, supported by an order book of RM173.11mil as at Aug 7, 2026.
The group also has a tender book of RM320.28mil, providing a pipeline for potential new orders.
