YHI International Limited reported a net profit of S$5.60 million for the six months ended Jun 30, up 50.2 per cent year-on-year, lifted chiefly by stronger gross margins in its energy distribution arm and lower restructuring costs.
Earnings per share rose to 1.95 Singapore cents from 0.97 cents a year earlier. The board did not declare an interim dividend; the company had paid a final dividend of 1.72 Singapore cents per share, or S$5.02 million in total, for FY2025 during the period under review.
Group revenue slipped 6.8 per cent YoY to S$183.07 million. Distribution – which contributed 90.1 per cent of turnover – grew 2.7 per cent to S$164.89 million, supported by higher energy-related sales that offset softer tyre and wheel demand. Wheel manufacturing revenue nearly halved to S$18.18 million following the shuttering of plants in Taiwan and China in the second half of FY2025.
By pre-tax contribution, the distribution division generated S$4.25 million, down from S$6.65 million a year earlier. Manufacturing swung to a positive pre-tax profit of S$2.12 million from a loss of S$1.74 million, aided by the absence of one-off retrenchment costs booked in 1H2025. Rental activities added S$1.22 million, marginally higher than the previous period. Group gross profit improved 3.5 per cent to S$50.22 million, lifting the margin to 27.4 per cent from 24.7 per cent.
Other income climbed 33.3 per cent to S$4.35 million, buoyed by rental receipts after the Suzhou factory was reclassified as an investment property. Conversely, net other gains fell 56.7 per cent to S$1.23 million, reflecting the absence of a S$1.7 million insurance payout recorded a year earlier. Distribution expenses rose 6.2 per cent on higher staff and marketing costs, while administrative expenses fell 7.6 per cent due to the previous year’s retrenchment charges in China. Financing costs eased 5.1 per cent to S$1.75 million.
Cash generated from operations totalled S$7.41 million. After S$0.23 million of net investing outflows and S$9.02 million of financing outflows—largely dividends, lease repayments and interest—cash and equivalents stood at S$63.38 million at end-June, versus S$64.54 million at end-2025. Net asset value was 94.39 Singapore cents per share, little changed from 94.24 cents six months earlier.
Management noted that lingering geopolitical tensions and supply-chain disruptions, alongside higher energy and freight costs, continue to weigh on wheel demand in Europe, which accounts for more than 80 per cent of segment sales. While three of four insurance claims related to the 2025 Kuala Lumpur warehouse fire have been settled, the remaining S$0.8 million claim is now before the Malaysian courts, with a case-management conference slated for Aug 21 2026.
Looking ahead, the company said it will focus on its resilient tyre and energy distribution businesses, automate operations and “right-size” resources to improve efficiency and manage costs amid the challenging external environment.
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