Link: https://links.sgx.com/1.0.0/corporate-announcements/YXEV502NOGU9J8BM/4c327e75c9a9e94004f76d1376f9b3e8f6c770c09252a463f7b60035ea488e29

Summary:

• Group’s logistics arm, Richland Logistics Services, remains the main revenue driver with improved revenue and robust operating performance.

• Revenue grew 9% year-on-year to S$16.40 million for the 6 months ended 30 June 2025, on higher volumes in sea freight, transport, warehousing, and supply chain services.

• Net profit was S$0.82 million, reversing a loss of S$0.41 million in the prior period; total equity rose to S$21.84 million and cash balances stood at S$16.55 million.

• EBITDA increased 39% to S$4.35 million, with strong operating cash flow of S$5.69 million generated during the half year.

• Group secured 5 new logistics contracts worth S$4.05 million per annum, including a 100% green distribution model with electric vehicles.

• Announced exclusive distribution agreement in July 2025 for a new engineering solution targeting efficiency in oil & gas transportation, with pilot tests planned in Indonesia in 2H 2025.

• Focus remains on growing logistics organically through operational efficiency and expanding into diversified, cash-generative businesses via M&A.

• Management highlights a meaningful turnaround, underlining the effectiveness of new strategies and commitment to sustainable, diversified growth.