Ten-League H1 Revenue Down 12.2% Amid Shift to Services; Regains Nasdaq Compliance
Ten-League International Holdings Limited announced its unaudited financial results for the first six months of fiscal year 2026. Revenue decreased by 12.2% to S$33.1 million (US$25.6 million), primarily due to a significant drop in heavy equipment sales. However, the company saw substantial growth in engineering consultancy service income (up 669.4%) and a modest increase in rental income (up 9.9%), reflecting a strategic shift towards higher-value services. Despite lower overall revenue, gross profit margin improved slightly to 24.0%. Net income and EPS declined compared to the prior year. The company also successfully regained compliance with Nasdaq's minimum bid price requirement following a reverse share split.
Key Highlights
- Revenue decreased 12.2% to S$33.1 million (US$25.6 million) for H1 2026.
- Sales of heavy equipment and parts decreased 41.1% to S$18.1 million (US$14.0 million).
- Engineering consultancy service income increased 669.4% to S$8.6 million (US$6.6 million).
- Rental income increased 9.9% to S$6.4 million (US$5.0 million).
- Gross profit margin increased to 24.0% from 23.5% in H1 2025.
- Net income decreased to S$1.7 million (US$1.3 million) from S$2.4 million in H1 2025.
- Basic and diluted EPS decreased to S$0.59 (US$0.46) from S$0.86 in H1 2025.
- Cash and cash equivalents increased to S$10.9 million (US$8.5 million) as of June 30, 2026.
Price Impact
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