Eneco Energy Limited has announced a substantial improvement in its financial performance for the fiscal year 2026, with net profit soaring to S$1.88m from S$0.10m in the previous 18-month period. The company has also proposed its first-ever dividend, with a payout of nearly 50% of profit after tax, under the leadership that began in December 2024.
The logistics division, RichLand Logistics Services, remains the primary revenue driver, contributing S$3.22m in segment profit. Overall revenue increased by 7.6% year-on-year to S$34.03m, reflecting enhanced operational performance and contributions from subsidiaries. Cash reserves saw a significant boost, rising by S$11.28m to S$27.82m as of 30 June 2026.
Executive Director Ang Jun Long expressed optimism about the company’s trajectory, stating, “We are encouraged by the Group’s performance in FY2026, with both revenue and profitability recording year-on-year improvements.” He highlighted the company’s focus on operational efficiency and strategic growth, which has laid a stronger foundation for future expansion.
Looking forward, Eneco plans to strengthen its logistics core and pursue growth opportunities whilst maintaining cost discipline. The company is also advancing its fleet electrification, with nearly 20% of its fleet now electric, and has announced plans to acquire industrial property to bolster its long-term growth platform. The proposed acquisition is located at 15 Gul Way, Singapore, and includes facilities to support logistics operations.
