Union Gas Holdings posted net profit of S$12.0 million for the six months ended Jun 30, 2026, almost triple the year-earlier figure of S$4.3 million, as a sharp uptick in liquid-fuel sales from its newly opened “Cnergy” service stations underpinned results.
Half-year revenue climbed 66.4% year-on-year to S$106.0 million. Earnings per share rose to 3.79 Singapore cents from 1.37 cents a year ago. The board declared an interim dividend of 0.48 Singapore cent per share and, for the first time, a special dividend of 0.32 cent, lifting the total HY2026 payout to 0.80 cent. This compares with 0.48 cent declared for HY2025.
Liquid Fuel revenue surged more than five-fold to S$51.7 million (HY2025: S$9.5 million), driven by higher sales volumes as the Dunman Road station (opened October 2025) and the Queensway station (opened February 2026) contributed throughout the period. The Gas Fuel segment maintained steady turnover of S$53.8 million, while EV Charging Services and Industrial Gases revenue grew 18.4% to S$0.5 million. Group gross profit increased 48.6% to S$33.6 million.
Cost of sales expanded to S$72.3 million, reflecting higher material-consumption costs partially offset by realised gains on commodity futures contracts. Management also pointed to rising energy prices linked to Middle East tensions as a continuing challenge, although the group ended the half-year with cash and cash equivalents of S$29.3 million and a gearing ratio of 0.12.
Union Gas is pressing ahead with network expansion, with new service stations slated to open in Marsiling and Jurong West in 2027, which will lift its island-wide network to five outlets. The company said it is actively scouting additional locations for its “Cnergy” brand while pursuing growth in electric-vehicle charging and other fuel segments.
Chief executive Teo Hark Piang noted that the recently opened stations “held their own against established energy retail players”, crediting strategic site selection and customer focus for the strong showing. He added that disciplined cost control will remain a priority as the company navigates volatile oil markets and prepares for further growth in the current financial year and beyond.