Union Gas H1 net profit jumps 179% to $12m

Group plans two more Cnergy stations in 2027, bringing its network to five.

Union Gas Holding’s net profit surged 179.1% to $12m in the first half of 2026 from $4.3m a year earlier.

Revenue rose 66.4% to $106m from $63.7m, whilst gross profit increased 48.6% to $33.6m.

The ‘Liquid Fuel’ segment was the main growth driver, with revenue jumping 444.4% to $51.7m from $9.5m.

The increase was attributed to higher sales volumes and contributions from its Cnergy service stations at Dunman Road and Queensway, which opened in October 2025 and February this year, respectively.

The group plans to open two more Cnergy service stations in Marsiling and Jurong West in 2027, which will bring its retail network to five service stations.

‘Gas Fuel’ segment revenue remained unchanged at $53.8m, whilst the ‘EV Charging Services and Industrial Gases’ segment posted an 18.4% growth to $500,000, mainly due to higher EV charging volumes.

Union Gas’ earnings per share climbed to 3.79 cents from 1.37 cents.

The group declared an interim dividend of 0.48 cents per share and its first special dividend of 0.32 cents per share, bringing its total dividend for the first half to 0.80 cents per share.

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