KUALA LUMPUR (Nov 10): Favelle Favco Bhd (KL:FAVCO) said on Tuesday that its Australian unit has secured two tower crane supply orders worth a combined RM83.7 million.

In a Bursa Malaysia filing, the crane manufacturer said its wholly owned subsidiary, Favelle Favco Cranes Pty Ltd, received the orders from Marr Contracting Pty Ltd and G A Caelli Holdings Trust between Nov 5 and the date of the announcement.

The cranes supplied to Marr Contracting are expected to be delivered by the first quarter of 2027, while those for G A Caelli Holdings Trust are scheduled for delivery by the end of 2027.

Favelle Favco posted a 53.7% year-on-year increase in net profit to RM12.7 million for the second quarter ended June 30, 2026 (2QFY2026), from RM8.24 million a year earlier, mainly due to higher operating profit and lower tax expenses.

However, revenue fell 9.4% to RM208.5 million from RM230.2 million.

As at Aug 18, the group had an outstanding order book of approximately RM1.22 billion, including RM137 million from its Intelligent Automation division. The order book comprises projects from the global oil and gas, shipyard, construction, wind turbine and intelligent automation industries.

Favelle Favco shares touched a high of RM1.75 in July before retreating in subsequent months. On Tuesday, the counter closed three sen or 2% lower at RM1.50, valuing the group at RM359.3 million.