KUALA LUMPUR (Feb 27): MN Holdings Bhd's (KL:MNHLDG) net profit for the second quarter ended Dec 31, 2025 (2QFY2026) doubled to RM25.19 million from RM12.58 million a year earlier on the back of its highest-ever quarterly revenue.

Revenue surged 94.1% to RM243.55 million from RM125.48 million in 2QFY2025, the group's bourse filing showed.

The substation engineering segment remained the key growth driver, contributing RM220.29 million — about 90% of total revenue — representing a 239% year-on-year increase. The underground utilities engineering segment added RM23.26 million, reflecting steady progress in utilities and infrastructure works.

No dividends were declared for the quarter.

For the first half of FY2026, net profit jumped 1.38 times to RM46.77 million from RM19.66 million in the previous corresponding period as revenue doubled to RM457.65 million from RM228.59 million.

Managing director Datuk Clement Toh said the group is well-placed to capture structural growth opportunities as Malaysia accelerates investments in grid modernisation, renewable energy integration, data centre infrastructure and water system upgrades.

“Our strengthened balance sheet, enhanced operational capacity, and expanding order book provide a solid foundation to support sustained earnings growth in the coming years,” he said.

The group added that it is supported by a healthy order book of about RM861.33 million and an increasing localisation of utilities, mechanical and electrical, and underground-engineering packages across energy, digital and water ecosystems.

It expects this to maintain earnings visibility and reinforce its role as a key execution partner in Malaysia’s long-term infrastructure development.

Shares in MN Holdings closed down one sen or 0.6% at RM1.67 on Friday, valuing the group at RM1.1 billion. Over the past year, the stock has gained nearly 55%.