Tiong Woon Corporation Holding Ltd reported a net profit of S$13.65 million for the six months ended Dec 31 2025, up 13% year-on-year, boosted by a double-digit increase in revenue from its core Heavy Lift & Haulage operations.

The mainboard-listed crane and logistics group posted revenue of S$89.72 million, 14% higher YoY. Basic and diluted earnings per share came in at 5.89 Singapore cents, compared with 5.20 cents a year earlier. In line with its usual practice of declaring dividends only at the end of the financial year, the board did not recommend an interim payout.

Segmentally, Heavy Lift & Haulage contributed S$88.14 million in external sales, a 15% YoY rise, lifting pre-tax profit from the division to S$16.39 million (+16% YoY). Marine Transportation delivered S$1.46 million in external revenue, up 56%, though pre-tax profit eased 7% to S$0.88 million as costs edged higher. Trading revenue fell sharply to S$0.13 million (-86% YoY), resulting in a marginal pre-tax profit of S$9,000.

Gross profit expanded 27% to S$38.50 million, with the margin improving to 43% from 39% previously, reflecting better pricing and utilisation in the Heavy Lift & Haulage and Marine Transportation businesses. Other income halved to S$0.92 million due to lower disposal gains and interest income, while net impairment losses on financial assets of S$1.02 million contrasted with a reversal a year earlier. Finance costs declined 9% to S$1.89 million following lower interest expenses.

Operating cash flow remained robust at S$29.18 million, helping to lift cash and cash equivalents to S$78.97 million as at end-December from S$62.63 million six months earlier, even after capital expenditure of S$26.77 million and dividend payments of S$4.06 million related to FY2025. Net borrowings rose to S$119.06 million (30 Jun 2025: S$111.78 million), reflecting higher secured borrowings taken to fund fleet investments.

Looking ahead, the company noted sustained demand for heavy-lift and haulage solutions in Singapore, India, Saudi Arabia and Thailand, underpinned by ongoing construction, petrochemical, semiconductor, infrastructure and data-centre projects. Management said it will maintain a focus on cash-flow discipline, cost control and selective capital deployment while actively pursuing new opportunities in established and emerging growth sectors.