MAG Holdings Bhd saw its first-half FY26 profit nearly halve, falling 48.4% year-on-year to RM13.3 million from RM25.8 million as higher logistics costs, foreign exchange volatility and shipment disruptions squeezed margins.
Revenue for the six months ended June 30, 2026, also eased 4.3% to RM197 million from RM205.8 million a year earlier, while gross profit stood at RM29.4 million.
The pressure was more pronounced in the second quarter, with profit falling 64% to RM6.2 million from RM17.2 million, while quarterly revenue declined to RM91.3 million from RM131.1 million.
MAG attributed the weaker performance to higher logistics and transportation costs, fluctuations in shipment schedules and the depreciation of the US dollar against the ringgit, which weighed on its US dollar-denominated export sales.
The prolonged Middle East conflict also continued to disrupt logistics networks and increase pressure on the group’s export-oriented operations.
Nevertheless, Executive Chairman Ng Min Lin said MAG remains focused on improving farm productivity, operational efficiency and cost management while expanding its aquaculture capacity and smart farming capabilities.
The group also opened a processing facility in Shanghai in April, strengthening its downstream and value-added food processing presence and providing a platform to expand further into China and regional markets.
As at end-June, MAG had total assets of RM1.05 billion, shareholders’ funds of RM626.1 million and cash and bank balances of RM7.3 million.
Despite near-term foreign exchange and geopolitical uncertainties, Ng said MAG remains confident in its longer-term prospects, supported by expanded farming capacity and growing downstream capabilities.
