Skylink net profit climbs 61.7% to $4.43m in FY26 after RTO effects

Revenue rose 34.1% as leasing and engineering segments drove performance.

Skylink Holdings reported a 61.7% increase in net profit to $4.43m for financial year (FY) 2026, following adjustments linked to its reverse takeover (RTO) accounting treatment and listing-related costs.

Excluding non-recurring RTO accounting effects and listing expenses, operating profit before tax rose 64.3% to $4.70m.

Revenue increased 34.1% to $35.36m, driven mainly by growth in the commercial vehicle leasing and engineering segments, the company reported.

Leasing revenue rose 37.8% to $26.05m, whilst engineering revenue increased 54.3% to $5.71m. The credit segment declined 4.5% to $3.60m.

Gross profit rose 45.9% to $9.91m, with gross margin improving to 28.0% from 25.7% a year earlier, despite higher depreciation from elevated COE prices, said the company.

Operating expenses increased 85.5% to $7.68m, driven by higher headcount, expansion-related costs and depreciation from new workshops and facilities.

The company also recorded $1.85m in one-off RTO listing expenses.

Net operating cash flow was $11.97m for FY2026, whilst cash and cash equivalents rose to $6.74m as at 31 March.

The company proposed a dividend of 0.55 cents per share, representing a payout of more than 30% of net profit.

Separately, Skylink raised $7.02m through a share placement of 26 million shares at $0.27 each, bringing total gross proceeds since its September 2025 SGX-ST listing to $16.2m.

As at end-FY2026, Skylink operated a fleet of more than 1,300 commercial vehicles, with around 91% of leasing contracts having terms of one year or longer. Its credit loan book stood at $66.24m.

CEO Wesley Shen said the group’s integrated model supported growth in revenue and cash generation following the RTO, alongside expansion in its mobility and financing segments.