KUALA LUMPUR (March 31): Bus operator HI Mobility Bhd (KL:HI) reported a 51.13% jump in net profit for its fourth quarter lifted by a reversal of impairment losses on receivables and higher interest income from short-term fund placements.

The improvement helped offset part of the operating costs incurred to prepare for the mobilisation and initiation of its Stage Bus Service Transformation (SBST) Johor Bahru 2025 contract, the group said in a filing with Bursa Malaysia on Tuesday.

Its net profit for the three months ended Jan 31, 2026 (4QFY2026) came in higher at RM15.22 million from RM10.07 million a year earlier, on the back of 9.11% jump in revenue to RM82.43 million from RM75.55 million, supported by higher ridership and increased frequency of both cross-border and domestic routes, in line with the continued recovery in travel demand and economic activity in Malaysia and Singapore. 

HI Mobility, which debuted on the Main Market in March last year, declared an interim dividend of one sen per share for the quarter, payable on April 30. This brings its total dividend for FY2026 to four sen per share, translating to a 2.14% dividend yield based on its RM1.87 closing price on Tuesday.

For the full financial year, net profit rose 29.04% to RM56.47 million from RM43.76 million, while revenue increased 13.53% to RM317.69 million from RM279.82 million.

Looking ahead, the group said it will continue to enhance operational efficiency and service reliability, while leveraging its existing fleet, depots and infrastructure to support its transportation services.

It also aims to pursue expansion opportunities in Malaysia, capitalising on its experience in cross-border and domestic bus operations, as well as its fleet management and digital capabilities.

Following shareholders’ approval last month for the integration of Acacia Motor Services Sdn Bhd and Handal BCM Sdn Bhd, HI Mobility said the move is expected to expand the group’s upstream presence into the manufacturing, assembly and distribution of commercial vehicles, thereby strengthening its transportation ecosystem and improving operational efficiencies over the longer term.

The group’s unbilled order book for contracted services currently stands at RM360 million, providing earnings visibility in the coming financial periods, it said. 

“Barring any unforeseen circumstances, the board remains cautiously optimistic regarding the group’s prospects to continue delivering a sustainable performance and creating long-term value for our shareholders for the upcoming financial periods,” HI Mobility added. 

On Tuesday, shares of HI Mobility fell eight sen or 4.1% to close at RM1.87, valuing the group at RM935 million. Year to date, the counter has dropped over 31%.