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 first quarter ended 31 March 2026 (“Q1 FY2026”) with a revenue of RM20.6 million, representing a significant increase of 132% from RM8.9 million in the corresponding quarter last year.
Profit Before Tax (“PBT”) rose to RM4.0 million, up 55% from RM2.6 million in Q1 FY2025, supported mainly by stronger contributions from the recovery and recycling division following the inclusion of Meridian World Sdn. Bhd. Profit for the period increased to RM3.5 million, compared to RM2.1 million in Q1 FY2025, translating to basic earnings per share of 1.32 sen.
Segmentally, the recovery and recycling division remained the Group’s key revenue driver, recording revenue of RM18.4 million in Q1 FY2026 as compared to RM6.6 million in the corresponding quarter last year. The trading division also recorded higher revenue, while the renewable energy division continued to contribute through the Group’s solar Feed-in-Tariff (“FiT”) plant and Corporate Renewable Energy Power Purchase Agreement (“CREPPA”) projects.
On a quarter-on-quarter (“QoQ”) basis, the Group’s revenue moderated slightly from RM22.4 million in Q4 FY2025 to RM20.6 million in Q1 FY2026. PBT stood at RM4.0 million compared to RM16.8 million in the preceding quarter, mainly as Q4 FY2025 had benefited from other income including gain on bargain purchase and fair value gain on investment in quoted shares. Excluding the absence of these gains in the current quarter, Tex Cycle continued to deliver a profitable performance, supported by its expanded recovery and recycling base following the integration of Meridian World Sdn. Bhd.
Mr. Gary Dass A/L Anthony Francis, Group Chief Executive Officer of Tex Cycle said, “We are pleased to start FY2026 on a strong footing, with our performance reflecting the continued scaling of our recovery and recycling division following the integration of Meridian. The Group’s stronger revenue base demonstrates the value of our expanded capabilities, particularly across specialised waste streams and higher-value environmental solutions.”
He added, “Moving forward, we are sharpening our focus on e-waste, expanding our compost and organics recovery initiatives, and enhancing our oil and gas waste treatment capabilities at our Telok Gong facility. These initiatives are aligned with Malaysia’s increasing emphasis on environmental compliance and net-zero aspirations, and position Tex Cycle to capture rising demand for ESG-driven waste management and renewable energy solutions.”
Looking ahead, Tex Cycle remains optimistic about the prospects of the scheduled waste management sector, supported by strengthened regulatory enforcement, growing ESG adoption, and Malaysia’s sustainability agenda. The Group will continue to expand its capabilities across high-value waste streams, including e-waste, compost and organics recovery, as well as oil and gas waste treatment, while further strengthening its renewable energy platform to support long-term sustainable growth.
