Union Gas has reported a 16.5% y-o-y lower earnings for the 1HFY2025 ended June 30 of $4.36 million.

The group’s revenue for the reporting period came in 3.8% y-o-y higher at $63.7 million, while gross profit grew 2.5% y-o-y to $22.6 million.

This higher revenue was attributed to an increase in revenue from its liquid fuel and newly established EV charging services and industrial gases business segments.

The liquid fuel segment registered a 33.8% y-o-y jump in revenue to $9.5 million mainly due to higher sales volume achieved, and the EV charging services and industrial gases segment reported revenue of $400,000, including maiden contribution of $200,000 from the industrial gas business in Indonesia which commenced operations in November 2024.

This was partially offset by lower revenue from its gas fuel segment, which declined 0.8% y-o-y mainly due to a decrease in volume.

Other income and gains recorded by the group fell 32.7% y-o-y mainly because of lower income from government grants and foreign exchange gains, while the group’s overall expenses increased by approximately 5.8% y-o-y, which was attributed mainly to an increase in marketing and distribution costs due to higher delivery charges, marketing expenses and staff costs.

As such, the group saw lower earnings for the period.

The board of directors has declared an interim dividend of 0.48 cents per share, representing about 35% of the net profit for 1HFY2025.