UUE Holdings Berhad (KLSE: UUE, 0310) has kicked off its new financial year on an exceptionally strong note, delivering record top- and bottom-line growth for its first quarter ended 31 May 2026 (Q1 FY2027)!
The underground utilities engineering solutions provider recorded a revenue of RM61.19 million, representing a massive 88.9% year-on-year (YoY) increase compared to RM32.40 million in Q1 FY2025. On a quarter-on-quarter (QoQ) basis, turnover expanded by 3.9% from RM58.89 million in Q4 FY2026. The group's reported profit after tax (PAT) surged 435.1% YoY to RM9.04 million (up from RM1.69 million), driven by heightened execution of underground utility projects in both Malaysia and Singapore and substantial margin expansion in its Singapore operations. Stripping out one-off Employees' Share Option Scheme (ESOS) expenses of RM0.23 million, UUE’s adjusted PAT reached RM9.27 million, while basic earnings per share (EPS) expanded to 0.99 sen for the quarter.
The Group's core revenue engine remained firmly anchored by its underground utilities engineering solutions division, which generated RM55.10 million (contributing 90.1% of total group turnover), reflecting a 96.1% YoY surge and a 6.4% QoQ increase. The manufacturing and trading of High-Density Polyethylene (HDPE) pipes segment contributed RM5.96 million (up 39.5% YoY), while the newly introduced Engineering, Procurement, Construction, and Commissioning (EPCC) of solar photovoltaic (PV) systems segment added RM0.13 million.
Geographically, domestic operations in Malaysia generated RM51.29 million (up 63.7% YoY), while international turnover from Singapore experienced a nine-fold leap to RM9.90 million (up from RM1.08 million in Q1 FY2025), driven by accelerated construction and infrastructure activities in the island nation.
Additionally, UUE's financial position strengthened further during the period, with total assets expanding to RM259.08 million as at 31 May 2026. Cash and bank balances stood at RM21.29 million, while net assets per share rose to RM0.16 (up from RM0.15 as of 28 February 2026).
Looking ahead, management maintains a positive operational outlook, backed by a robust unbilled order book of RM515.20 million that guarantees strong earnings visibility over the coming financial periods. Industry demand remains strong in Malaysia, supported by Tenaga Nasional Berhad’s (TNB) RM42.80 billion capital expenditure commitment under Regulatory Period 4 (2025–2027) and grid reinforcement under the National Energy Transition Roadmap (NETR). Concurrently, Singapore’s construction sector acceleration, which grew 11.8% YoY in Q1 2026, provides strong tailwinds for UUE's ongoing cross-border expansion. By maintaining disciplined project selection and cost controls, UUE Holdings Berhad is well-positioned to sustain its growth momentum across the regional utility infrastructure ecosystem.
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