Tex Cycle Technology (M) Berhad (“Tex Cycle” or the “Group”), an established waste management and recycling solutions provider, today announced its financial results for the second quarter ended 30 June 2026 (“Q2 FY2026”), recording revenue of RM24.1 million, representing an increase of 180% from RM8.6 million in the corresponding quarter last year (“Q2 FY2025”).
Profit Before Tax (“PBT”) increased by 25% to RM4.3 million from RM3.4 million in Q2 FY2025, driven mainly by higher sales demand from the recovery and recycling division, together with contributions from Meridian World Sdn. Bhd. (“Meridian”). Profit for the period stood at RM3.1 million, while basic earnings per share was 1.16 sen.
The recovery and recycling division remained the Group’s key growth driver, with revenue increasing by 322% year-on-year (“YoY”) to RM22.4 million from RM5.3 million in Q2 FY2025, supported by higher sales demand and Meridian’s contribution. Meanwhile, the renewable energy division recorded revenue of RM1.2 million during the quarter, with contributions from the Group’s solar Feed-in-Tariff (“FiT”) plant and Corporate Renewable Energy Power Purchase Agreement (“CREPPA”) projects.
For the six-month period ended 30 June 2026 (“1H FY2026”), the Group recorded revenue of RM44.8 million, representing an increase of approximately 155% from RM17.5 million in the corresponding period last year. PBT increased by approximately 38% to RM8.2 million from RM6.0 million, while profit for the period rose to RM6.6 million from RM5.1 million previously.
Mr. Gary Dass A/L Anthony Francis, Group Chief Executive Officer of Tex Cycle said,
“We are encouraged by the strong momentum recorded in Q2 FY2026, with both revenue and PBT improving year-on-year as well as quarter-on-quarter. The significant growth of our recovery and recycling division, together with Meridian’s contribution, demonstrates the strength of our expanded platform and reinforces our confidence in the growth opportunities ahead.
Moving forward, we are accelerating our expansion across several key growth areas, including high-value waste by-product processing and production through Meridian, BiobiN and compost production for the treatment and recovery of organic waste, as well as oil and gas waste treatment capabilities at our Telok Gong facility.
Together with strategic collaborations such as Anggun Kitar Resources, we are broadening Tex Cycle’s capabilities and positioning the Group to capture a wider range of opportunities across the environmental solutions value chain.”
On 7 July 2026, Tex Cycle’s wholly-owned subsidiary, Tex Cycle (P2) Sdn. Bhd., entered into a Collaboration Agreement with Anggun Kitar Resources Sdn. Bhd. The collaboration enables both parties to leverage their respective scheduled waste codes issued pursuant to the First Schedule of the Environmental Quality (Scheduled Wastes) Regulations 2005, allowing them to manage a broader range of scheduled wastes and optimise their respective business opportunities.
Looking ahead, Tex Cycle will progressively tap into the scheduled waste management synergies between its wholly-owned subsidiaries, Tex Cycle (P2) Sdn. Bhd., and Meridian by leveraging their complementary strengths, technical capabilities and customer networks.
Through this integration, the Group aims to broaden its service offerings, develop additional value-added solutions and expand its reach across both new and existing customer segments, supporting Tex Cycle’s ambition to capture a greater share of the environmental solutions market.
For more information, visit https://www.texcycle.com.my/
