For the six months ended Dec 31, 2025, NSL reported profit of around $10.3 million, a 49% decline from the previous corresponding period.
Overall revenue declined from $179.7 million to $159.4 million, representing a y-o-y decrease of 11%, while gross profit decreased from $44.8 million to $30.8 million, or 31% y-o-y.
The decline in gross profit was attributed to less sales for the precast business in Malaysia caused by project delays and weaker performance in the environmental services division. The precast business in Dubai and precast bathroom unit (PBU) business in Finland saw improved performances.
On a segmental basis, the precast and PBU unit reported $20.2 million in pre-tax profit on revenue of $130.7 million, environmental services recorded a loss of more than $4.3 million on revenue of $21.7 million, the chemicals division contributed more than $1 million to earnings on revenue of $1.8 million and the investment holding and other segment saw a loss of more than $1.2 million on $5.2 million in revenue.
NSL had cash and cash equivalent balance of $119.1 million at the end of the period, around 25% more than the end of the previous corresponding period. Net asset value per share was 81 cents, up two cents from the previous corresponding period, with borrowings slightly exceeding $13.7 million.
In its results filing, NSL says that barring unforeseen delays, the precast business is likely to remain “satisfactory”, supported by order books in Singapore, Malaysia and Dubai. It adds that the weak housing market in Finland is affecting the PBU business in the country while the environmental services division is facing “challenging” market conditions.
See also: UG Healthcare reports lower net loss after tax for 1HFY2026
The company is proposing an interim dividend per share of two cents. The record date is Feb 24 and the cut-off time is 5:00 pm.
The counter closed flat at 93 cents per share on Feb 11.
