Pengo Holdings Group Limited (1865) reported its unaudited interim results for the six months ended 30 September 2025. The Group recorded revenue of approximately S$23.0 million, marking a 4.3% decline compared to around S$24.1 million in the same period last year. The decrease was largely due to lower water pipeline project revenue, partially offset by growth in gas pipeline and construction engineering services.

The Group’s cost of sales dipped from roughly S$21.4 million to around S$20.6 million, contributing to a gross profit of approximately S$2.5 million. Administrative expenses stood at about S$10.1 million, down from around S$14.3 million a year earlier. Overall, the Group posted a net loss of approximately S$7.1 million, an improvement on the S$9.6 million loss in the corresponding period of 2024. No interim dividend was declared.

Management disclosed that there were eight ongoing gas pipeline projects and eight ongoing water pipeline projects, with a total contract sum of around S$143.7 million and about S$96.5 million already recognized as revenue to date. As at 30 September 2025, the Group maintained net current assets of around S$66.1 million and net assets of about S$89.4 million, while the gearing ratio declined to roughly 22%, compared with 27% at 31 March 2025.

Looking ahead, the Board intends to keep monitoring global economic conditions and continue focusing on infrastructure construction and engineering opportunities in the People’s Republic of China and other markets. The Group also noted that it is exploring new business areas to diversify its portfolio and drive sustainable growth.