Adnex Group Berhad Delivers Its Q1 FYE2026 With Revenue Of RM27.24 Million And Adjusted PBT Of RM3.86 Million

Adnex Group Berhad (“Adnex” or the “Group”) which is primarily involved in the provision of interior fit-out services, announced its financial results for the first quarter ended 31 March 2026 (“Q1 FYE2026”).

 For Q1 FYE2026, Adnex recorded revenue of RM27.24 million, while profit before tax (“PBT”) stood at RM0.80 million and profit after tax (“PAT”) came in at RM0.58 million. The reported results were significantly impacted by one-off listing expenses of RM3.06 million recognised during the quarter. Excluding these non-recurring listing expenses, Adnex would have achieved an adjusted profit before tax (“Adjusted PBT”) of RM3.86 million and adjusted PAT of RM3.64 million, underscoring the Group’s underlying earnings performance in its first quarterly results following its successful listing on the ACE Market of Bursa Malaysia Securities Berhad on 17 March 2026.

The Adjusted PBT also represents an implied adjusted PBT margin of approximately 14.20%, reflecting Adnex’s ability to maintain healthy project profitability despite operating in the seasonally softer first quarter period, where interior fit-out activity may be affected by festive periods such as Chinese New Year and customer project cycles.

Compared with the immediate preceding quarter ended 31 December 2025, the Group’s revenue remained resilient, rising marginally by 0.37% from RM27.14 million to RM27.24 million. Revenue for Q1 FYE2026 was mainly contributed by the Group’s interior fit-out works segment, which generated RM20.51 million, representing 75.31% of total revenue. The turnkey fit-out services segment contributed RM6.73 million, or 24.69% of total revenue.

In addition, the Board of Directors of Adnex approved and declared a single-tier interim dividend of 0.50 sen per share in respect of the financial year ending 31 December 2026, amounting to RM2.50 million, which will be paid on 10 July 2026.

 Mr. Kan Wai Chun, Managing Director of Adnex commented, “While our reported earnings for Q1 FYE2026 were affected by one-off listing expenses, our adjusted PBT of RM3.86 million demonstrates the strength and resilience of our underlying business. This is a strong performance for the Group, particularly as we continued to sustain revenue momentum and deliver healthy profitability during the quarter.”

He added, “The results reinforce the fundamentals of Adnex’s business model, supported by our established execution capabilities, experienced project team, and track record in delivering interior fit-out services for corporate offices, commercial spaces, F&B outlets, and sales galleries. Following our listing, we are now better positioned to pursue larger opportunities, strengthen our operational capacity, and support our next phase of growth.”

 

As at 31 March 2026, the Group’s total equity strengthened to RM35.00 million, compared with RM17.42 million as at 31 December 2025, following the completion of its IPO exercise. Cash and bank balances also increased to RM21.85 million from RM13.81 million as at 31 December 2025, providing Adnex with a stronger financial base to support ongoing and future projects.

 

In conjunction with its IPO, Adnex raised gross proceeds of RM18.10 million. The proceeds have been earmarked for business expansion, performance bonds for interior fit-out projects, repayment of bank borrowings, working capital requirements, and listing expenses.

 

Moving forward, the Group remains optimistic on its prospects, supported by continued demand for interior fit-out services from commercial and industrial property growth, as well as domestic and foreign investments into Malaysia. These trends are expected to support the establishment, relocation, refurbishment, and upgrading of offices, commercial premises, and operating facilities.