KUALA LUMPUR (Aug 26): Renewable energy solutions provider Samaiden Group Bhd (KL:SAMAIDEN)’s fourth-quarter net profit more than doubled to a fresh record high despite lower revenue, driven by higher-margin new projects and improved supply chain and cost management.

The group recorded a net profit of RM14.76 million for the quarter ended June 30, 2026 (4QFY2026), up 107.7% from RM7.11 million for 4QFY2025, its bourse filing showed. Gross profit margin jumped to 29.7% from 14.2% while administrative expenses dropped nearly 32% to RM4.68 million. Earnings were also supported by a 42% drop in impairment charge to RM2.99 million.

Quarterly revenue fell 21.7% to RM105.74 million from RM134.95 million due to the timing of project billing cycles, as the comparative quarter last year saw peak billing for older projects, while the current quarter reflected the initial construction phase of newly commenced Large Scale Solar 5 (LSS5) projects.

A second interim dividend of one sen per share was declared, payable on Oct 7, raising the year-to-date FY2026 payout to 2.4 sen per share — 60% more than the 1.5 sen it paid in the corresponding FY2025 period.

The group closed FY2026 with its highest annual earnings and revenue since its 2020 listing. Net profit for the year surged 93.32% to RM39.07 million from RM20.21 million for FY2025 as revenue edged up 3.12% to RM364.5 million from RM353.47 million.

Samaiden group managing director Chow Pui Hee said the group ended FY2026 with a strong fourth quarter that was supported by the continued progress of its projects and significantly improved profitability for the year.

“This gives us good momentum entering FY2027, at a time when Malaysia’s renewable energy market is opening up a new wave of opportunities,” Chow said in a statement.

Looking forward, the rollout of LSS6, continued development of the Corporate Renewable Energy Supply Scheme (CRESS) and other national renewable energy programmes are expected to sustain industry activities, she said. LSS6, the country’s largest LSS programme to date, offers 2,650MW of solar capacity, including 2,500MW paired with a 1,250MW battery energy storage system.

“In particular, the integration of battery energy storage systems (BESS) under LSS6 marks an important development for the utility-scale solar market and broadens the opportunities available across the renewable energy value chain. We look forward to building on this momentum in the new financial year,” Chow added.

The group’s order book stood at RM435.8 million as at June 30, 2026. It is pursuing a diversified pipeline spanning utility-scale solar, BESS, CRESS, rooftop solar and other renewable energy projects, with several sizeable projects at advanced stages and active bidding under LSS6.

Samaiden shares ended two sen higher at RM1.7 on Wednesday, for a market capitalisation of RM953.34 million. The stock has rebounded 86% since its recent low of 91.5 sen in March this year.