Reclaims Global (SGX:NEX)’s FY26 results came in-line with our expectations with revenue and profits at 98%/107% of our full year forecast. Revenue rose 5% y-o-y to S$46.5mln from stronger market demand for its Excavation Services and Logistics & Leasing segments.
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Net profit was supported by a S$0.7mln one-off gain on disposal of its former headquarters. Reclaims Global declared dividends of 1.0 cents (0.5 cents final, 0.5 cents special), bringing total full year Reclaims Global's dividends to 1.25 cents (adjusted for 1-for-1 bonus issue), representing a 54% payout ratio and an attractive 6.3% yield.
Constructive industry on an upcycle.
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By operating at a project’s inception, Reclaims Global secures early cash flow. In addition, coastal protection measures are projected to cost around $100 billion over 100 years, providing significant construction opportunities for companies like Reclaims Global. Construction of coastal defences are expected to start from the 2030s.
According to Mr. Tan Kok Huat, Executive Director and CEO: “FY2026 has been a year of strong momentum and execution for the Group, with revenue growth driven by stronger demand for our Excavation Services and Logistics and Leasing segments, underpinned by the Group’s execution capabilities and focus on operational excellence. Looking ahead, we aim to deliver consistent and sustainable value creation while sharing the benefits with our shareholders.”
Entry into property development/investment.
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Above is an excerpt from a report by Lim & Tan Securities Research. Clients of Lim & Tan Securities may be the first to access the full PDF report @ https://www.limtan.com.sg/.
