JAG Berhad (“JAG” or the “Company”), a total waste management and resource recovery specialist, today announced its financial results for the second quarter ended 30 June 2026 (“Q2 FY2026”), marking its third consecutive profitable quarter in FY2026 as earnings strengthened further from the preceding quarter, alongside continued growth in its core business.
For Q2 FY2026, JAG recorded PAT of RM6.35 million, reversing a loss after tax of RM2.40 million in Q2 FY2025. Revenue rose 68.0% year-on-year to RM101.55 million from RM60.45 million in the corresponding quarter of the preceding financial year. Basic earnings per share improved to 0.91 sen from a loss per share of 0.33 sen previously.
For the six-month period ended 30 June 2026 (“H1 FY2026”), PAT reached RM11.72 million, reversing a loss after tax of RM8.83 million in H1 FY2025, while revenue increased 55.4% year-on-year to RM166.13 million from RM106.92 million. Profit before tax stood at RM17.32 million versus a loss before tax of RM8.83 million previously, with basic earnings per share at 1.67 sen compared with a loss per share of 1.22 sen.
On a quarter-on-quarter basis, JAG maintained positive earnings momentum. PAT increased 18.2% sequentially from RM5.37 million in Q1 FY2026 to RM6.35 million in Q2 FY2026, marking the third consecutive profitable quarter in FY2026 and lifting cumulative first-half PAT to RM11.72 million. Revenue also rose 57.3% sequentially from RM64.58 million to RM101.55 million.
Dato’ Ng Meow Giak, the Executive Director of JAG Berhad, commented, “The Q2 results demonstrate that the earnings recovery achieved since the 4th quarter of 2025 has continued into the second quarter, with PAT expanding further on a sequential basis and quarterly revenue exceeding RM100 million. More importantly, we have now delivered three consecutive profitable quarters in FY2026. Our performance to date has exceeded our internal expectations, reflecting the progress we have made in strengthening our operational execution, improving efficiencies and enhancing our resource recovery capabilities. With this momentum, we believe JAG is well positioned towards delivering its strongest full-year performance to date and building on this growth beyond FY2026.”
JAG also recorded stronger cash generation during H1 FY2026, with net cash generated from operating activities rising to RM16.60 million from RM5.20 million in the corresponding period. Cash and bank balances increased to RM10.56 million as at 30 June 2026 from RM6.37 million at end of 2025, while total equity rose to RM213.05 million from RM202.76 million. Net assets per share improved to 30.18 sen from 28.83 sen.
During H1 FY2026, the Company acquired RM3.69 million of treasury shares and received RM4.40 million in proceeds from the exercise of Warrant C, supporting its capital base as it continues to balance shareholder returns with business requirements.
In line with its commitment to delivering shareholder value, the Board has declared a second interim single-tier dividend of RM0.002 (0.2 sen) per ordinary share in respect of the financial year ending 31 December 2026 (“FYE2026”), amounting to approximately RM1.41 million. The dividend was declared on 19 August 2026, with an entitlement date of 11 September 2026 and a payment date of 25 September 2026. Together with the first interim dividend of RM0.002 per share declared earlier in the financial year, this brings total dividends declared for FYE2026 to-date to RM0.004 per ordinary share.
Dato’ Ng added, “Our focus remains on strengthening JAG’s sourcing and recovery capabilities, improving process efficiency and supporting the long-term competitiveness of our core business. At the same time, we remain disciplined in capital allocation, with the objective of sustaining earnings quality while creating long-term value for shareholders.”
Looking ahead, JAG remains focused on its core TWM business as the principal platform for future growth. Building on the first-half earnings momentum, the Company will continue to enhance sourcing capabilities, downstream recovery and processing capacity, while pursuing operational efficiencies and relevant technologies to strengthen competitiveness and support sustainable long-term growth.
