Eneco Energy Limited has announced a significant turnaround in its financial performance for the six months ending 31 December 2025, with the company reporting a net profit of S$0.69m compared to a loss of S$0.31m in the same period the previous year. The logistics division, operating under RichLand Logistics, was the primary revenue driver, contributing to a 3% increase in revenue to S$16.48m.
The company generated S$3.41m in net cash from operations, bolstering its cash and bank balances to S$28.57m by the end of the year. Total equity rose to S$34.27m, with a net asset per share of 0.90 Singapore cents. Executive Director Ang Jun Long highlighted the importance of stable operating performance and cost discipline in achieving these results, stating, “The strengthening of our balance sheet during the period further enhances our financial flexibility.”
Eneco’s strategic focus remains on organic growth within its logistics operations, aiming to enhance operational efficiency and expand value propositions. The company is also exploring selective mergers and acquisitions to diversify its portfolio into profitable, cashflow-generative businesses. Recently, Eneco entered a non-binding memorandum of understanding to acquire Fastweld Engineering Construction Pte Ltd, a move that signifies strategic diversification into the industrial sector.
Looking forward, Eneco is committed to maintaining its momentum by driving sustainable performance and evaluating growth opportunities aligned with its long-term objectives.
