Legion Consortium Limited (02129) reported a return to profitability for the six months ended 30 June 2026, buoyed by rising demand for trucking and freight-forwarding services.
Revenue and Profitability • 1H26 revenue rose 10.78% year on year to S$32.81 million, driven by higher volumes and pricing in core trucking and freight-forwarding operations. • Gross profit edged up 1.27% to S$9.87 million; the gross margin narrowed to 30.1% from 32.9% due to a faster rise in service costs (+15.3%). • Net profit reached S$0.67 million, reversing a S$1.57 million loss in 1H25; net margin improved to 2.0%. Basic and diluted EPS turned positive at 0.06 Singapore cent versus a loss of 0.12 cent a year earlier.
Segment Performance • Trucking services: revenue increased 12.2% to S$15.65 million; segment gross profit fell to S$4.37 million amid margin compression (27.9% vs 35.6%). • Freight forwarding: revenue advanced 23.5% to S$12.65 million; segment gross profit climbed to S$4.16 million, maintaining a 32.9% margin. • Value-added transportation services (VATS): revenue declined 18.2% to S$4.51 million following the expiry of a warehouse contract; gross profit held at S$1.33 million with margin improving to 29.4%.
Cost Structure • Administrative expenses contracted 15.9% to S$8.97 million after elevated one-off professional and consultancy fees in the prior period. • Finance costs increased 23.1% to S$0.24 million, reflecting higher bank borrowings, which grew to S$9.25 million (31 Dec 2025: S$4.00 million). • Other gains of S$0.10 million, versus a prior-year loss of S$0.31 million, were mainly attributable to favourable foreign-exchange movements.
Balance Sheet and Liquidity • Total assets stood at S$76.04 million (31 Dec 2025: S$72.75 million); net assets edged up to S$50.16 million. • Cash and cash equivalents increased to S$15.54 million, supporting a current ratio of 1.73x. • Interest-bearing liabilities (bank borrowings plus lease liabilities) amounted to S$13.05 million, trimming the gearing ratio to 26.0% from 28.0%. • Unutilised banking facilities totalled S$7.30 million out of S$16.20 million available. • Capital commitments were S$3.20 million, mainly for property, plant and equipment. No material acquisitions, disposals or contingent liabilities were reported.
Operational Highlights As of 30 June 2026, the Group operated 65 prime movers, 511 trailers, 24 flat vans, and maintained two logistics yards (approx. 33,592 sq m) and two warehouses (approx. 8,653 sq m). Management is negotiating a long-term lease for additional land to expand warehousing and vehicle parking, aimed at supporting future growth and mitigating rental cost volatility.
Outlook Management intends to scale transportation operations, enhance VATS, and broaden warehousing capabilities, while continuing prudent cost control amid fuel-price and labour-market uncertainties. No interim dividend was declared for the period.