HENG HUP's six-month profit plummets 86.9% to RM1.1 million amid weaker scrap metal market

Stock News08-30

HENG HUP (01891) has released its interim results for the six months ended 30 June 2026, posting a revenue of RM659 million, a year-on-year decrease of 9.1%.

Profit attributable to owners of the company stood at RM1.1 million, marking a sharp decline of 86.9% compared to the same period last year. Basic earnings per share were 0.11 sen.

According to the company's announcement, the revenue drop was primarily driven by a decline in both the sales volume and average selling price of scrap metal. Sales volume fell 3.5% from 434,400 tonnes to 419,400 tonnes, while the average selling price declined 5.2% from RM1,446 per tonne to RM1,371 per tonne.

These figures reflect the currently weaker pricing environment and market conditions prevailing in the domestic scrap metal industry during the reporting period, the company noted.

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