Avangaad Bhd posted profit after tax (PAT) of RM15.6 million for the six months ended June 30, 2026 (1H26), supported by resilient contract-driven revenue and the completed disposal of FOIS Nautica Tembikai, which contributed to the group’s profitability.
Revenue for 1H26 also rose to RM64 million from RM62.2 million a year earlier, as its fast crew boat operations continued to build momentum.
For the second quarter, Avangaad recorded PAT of RM10.5 million, while fast crew boat revenue increased 5% quarter-on-quarter to RM32.8 million. The group also secured a RM2.4 million spot charter contract during the quarter, strengthening its near-term chartering pipeline.
Earnings visibility remains healthy, with Avangaad holding a RM153.7 million firm order book as at end-June. Together with RM262.1 million in potential contract extensions, total revenue visibility stood at RM415.8 million.
The group’s balance sheet also strengthened significantly, with cash surging 74% to RM80.7 million while borrowings fell to RM68.8 million. Net gearing improved to negative 0.03 times, providing greater financial flexibility for future growth.
Executive Director Datuk Mubarak Hussain Akhtar Husin said Avangaad’s focus for the remainder of FY26 will be on maximising fleet utilisation, extending contract continuity and converting its stronger financial base into growth opportunities.
