Skylink Holdings (SGX:XZB
) has reported a net profit of $4.43 million for FY2026 ended March 31, up 61.7% y-o-y.
Revenue grew 34.1% y-o-y to $35.36 million for FY2026, driven mainly from its commercial vehicle leasing and engineering business.
The commercial vehicle leasing segment remained Skylink’s key revenue contributor with revenue increasing 37.8% y-o-y to $26.05 million due to increased fleet size of commercial vehicles for leasing, including the ability to secure longer-term contracts with a minimum lease commitment period of 1 year and above.
As at March 31, about 91.06% of its commercial vehicle rental contracts are 1 year or longer while the figure was at 85.75% a year ago.
Revenue from its engineering segment saw a growth of 54.3% y-o-y to $5.71 million, mainly attributed to higher volume of MRO and body customisation works, supported by the maiden engineering service contracts from SBS Transit and F&N Foods, as well as the continued expansion of its capabilities and facilities.
Revenue from the credit segment dipped marginally by 4.5% y-o-y to $3.60 million in FY2026, mainly due to higher hirer settlements and recognition of lower interest income towards the end of the hire purchase term under the Rule of 78, as interest income is front-loaded during the initial hire purchase period.
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Loan book size was at $66.24 million as at March 31. With more new loans originated during 2HFY2026, Skylink says that this would generate higher yields as compared to those legacy loans, which have since been progressively paid off.
With the higher revenue, gross profit increased 45.9% y-o-y to $9.91 million with a higher gross profit margin of 28%.
Other income jumped from $340,000 to $2.91 million in FY2026, mainly due to a gain on disposal from regular replacement of commercial vehicle fleet.
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As at March 31, Skylink’s cash and cash equivalents increased from $3.52 million to $6.74 million.
Skylink has proposed a final dividend of 0.55 cents per share, which translates to a payout ratio of more than 30% of its FY2026’s net profit.
“With our listed platform, integrated ecosystem and strengthened balance sheet, we are strategically positioned to accelerate our growth ambitions, enhance our revenue visibility and further strengthen our position as a trusted one-stop commercial mobility solutions provider in Singapore,” says Wesley Shen, CEO of Skylink.
Shares of Skylink closed 1 cent higher, or 3.92% up at 26.5 cents on May 25.
