IOI Corporation Q2 FY2026 profit surges 194% to RM650m on stronger refining margins and FX gains; interim dividend maintained at 5.5 sen
Summary:
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Q2 FY2026 profit before tax jumped to RM650.2 million from RM220.8 million, with underlying PBT up 7% to RM538.4 million after stripping out large FX translation and fair value items.
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Group revenue rose 1% in the quarter to RM3.01 billion and 7% to RM6.06 billion for 1H FY2026, driven by higher contribution from the resource-based manufacturing segment and marginally stronger plantation earnings.
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Resource-based manufacturing swung from a RM59.7 million loss to an RM83.5 million profit in Q2, with underlying profit up 94% to RM66.7 million on better refinery margins and higher associate contribution, notably Bunge Loders Croklaan.
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Plantation delivered Q2 profit of RM485.0 million, only 3% lower year on year; underlying profit was slightly higher at RM500.6 million, supported by increased FFB output despite lower CPO prices and higher costs.
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The balance sheet strengthened with net assets per share rising to RM2.06 (30 June 2025: RM1.98) and net cash from operations up to RM777.5 million in 1H, while the board paid a second interim single-tier dividend of 5.5 sen per share in respect of FY2025.