Glostrext Bhd has declared a first interim dividend of 0.5 sen per share despite reporting lower revenue and profit after tax (PAT) for the first quarter ended June 30, 2026 (1Q27).
The geotechnical instrumentation and power engineering specialist recorded revenue of RM11.77 million for 1Q27, down from RM14.38 million a year earlier, while PAT fell to RM1.84 million from RM2.91 million.
The dividend, amounting to about RM2.09 million, will be paid on Aug 28 to shareholders registered as at Aug 14.
Glostrext attributed the weaker year-on-year performance to softer contributions from its pile instrumentation and static load testing business, as construction projects were deferred amid cost pressures and global uncertainties. Fewer higher-margin instrumentation and testing projects in Singapore also weighed on profitability.
However, performance improved against the preceding quarter. Revenue rose 6.12% from RM11.10 million, while profit after tax jumped 70.37% from RM1.08 million, supported by stronger structural monitoring and power engineering contributions, better efficiency and cost controls.
Malaysia accounted for 54.87% of group revenue, overtaking Singapore as its largest market, while the pile instrumentation and static load testing segment remained the biggest contributor at 54.3%.
Alternate Director to Managing Director Lee Ming Jean said the sequential earnings improvement reflected the resilience of Glostrext’s diversified business model despite project delays in Singapore.
“We continue to see encouraging momentum in our power engineering equipment and services business, supported by rising investments in data centres, cloud infrastructure and semiconductor manufacturing in Malaysia,” he said.
Glostrext’s cash and bank balances rose to RM15.01 million as at June 30 from RM11 million at end-March, while total borrowings and lease liabilities remained modest at RM6.35 million.
The group expects power engineering to become a more significant earnings contributor, complementing its established geotechnical instrumentation and monitoring businesses.
