KUALA LUMPUR (Sept 22): Cypark Resources Bhd (KL:CYPARK) posted a net profit of RM5.7 million for its first quarter ended July 31, 2026 (1QFY2027), compared with a net loss of RM18.6 million a year earlier, crediting the turnaround to its existing businesses and development of new sources of earnings.
The result ends a four-quarter loss streak for the integrated renewable energy and environmental solutions provider.
Revenue for 1QFY2027 more than quadrupled to RM180.05 million from RM41.7 million a year earlier, driven primarily by its Sustainable Engineering & Infrastructure (SE&I) segment, which contributed RM132.48 million following the commencement and progress of ongoing projects.
Revenue from renewable energy (RE) rose 4.9% year-on-year to RM29.85 million due to higher electricity generation from its LSS3 Merchang solar plant in Terengganu and feed-in approval holder assets.
The circular waste and waste-to-energy (WtE) segment saw revenue increasing 36.2% year-on-year to RM17.72 million, supported by higher plant operations, increased waste volumes, and the full-quarter effect of revised tipping fees.
No dividend was declared for the quarter under review.
In a statement, Cypark group managing director Datuk Ami Moris described the turnaround as an important milestone for the company.
“1QFY2027 marks an important turning point for Cypark. We have returned to profitability, revenue has more than quadrupled year-on-year and, importantly, this performance is being driven by our underlying businesses. The strategy we have been building is now translating into tangible financial results,” she said.
Moris added that performance across key divisions was encouraging.
“Our renewable energy and WtE businesses continue to grow, while SE&I has emerged as a significant new earnings engine. Together, they are creating a stronger and more diversified earnings platform for Cypark.”
Looking forward, the group said it holds an orderbook of approximately RM2.4 billion and an active tenderbook of RM2.2 billion.
The SE&I segment is expected to be a primary growth driver, anchored by the RM1.962 billion EPCC joint venture contract with Tenaga Nasional Bhd (KL:TENAGA) unit TNB Power Generation Sdn Bhd (TNB Genco) for the 595MWac Hydro Floating Solar plant in Tasik Kenyir, Terengganu.
Cypark shares closed two sen, or 3.08%, higher at 67 sen on Tuesday, giving the group a market capitalisation of RM587.9 million.