Dagang NeXchange Bhd (DNeX) swung back into profitability in 1H26, posting profit after tax (PAT) of RM44.9 million compared to a RM82.3 million loss a year earlier, supported by stronger performances from its Semiconductor and Information Technology businesses.
The previous year’s results included a RM105 million one-off, non-cash deferred tax charge arising from changes to the UK Energy Profits Levy.
Revenue for the six months ended June 30 stood at RM552.4 million against RM559.5 million previously, weighed by the stronger ringgit. Excluding currency translation effects, revenue grew 4% year-on-year.
For 2Q26, PAT more than tripled to RM31.4 million from RM9.7 million, while revenue rose 8% to RM284.8 million.
The Semiconductor segment was a key driver, with quarterly revenue climbing 21% to RM187.4 million on higher shipment volumes and average selling prices. Emerging Technology products accounted for 57% of segment revenue, up from 45% a year earlier.
The IT business also strengthened, with revenue increasing 5% to RM42.7 million, supported by higher trade activities and transaction volumes.
DNeX generated RM216.5 million in operating cash flow during 1H26, more than four times the RM53.6 million recorded a year earlier.
As at end-June, the group remained in a strong net cash position, holding RM694.7 million in cash against RM167.1 million in borrowings.
Interim Officer-in-Charge, Group COO and Group CFO Vinie Chong Pui Ling said the improved earnings reflected strategic consolidation, cost optimisation and integration initiatives across the group, with DNeX continuing to focus on efficiency, disciplined capital management and long-term profitable growth.
