Tuas half-year result: profit leaps as revenue and subscribers grow

The Tuas Ltd (ASX: TUA) share price is in focus today after the telco reported half-year revenue up 26% to S$91.9 million and net profit after tax jumping 173% to S$8.2 million.

What did Tuas report?

• Revenue: S$91.9 million, up 26% from S$73.2 million a year earlier
• Statutory profit after tax: S$8.2 million, up 173% from S$3.0 million
• Underlying EBITDA: S$42.1 million, up 27%, excluding non-recurring acquisition costs
• Basic earnings per share: 1.53 cents, up from 0.65 cents
• No interim dividend declared
• Net tangible assets per share: S$1.30, up from S$0.70

What else do investors need to know?

Tuas continued to generate strong positive net cash flow, with cash and term deposits rising to S$478 million at 31 January 2026, boosted by a S$364.5 million equity raising to support Tuas’ proposed acquisition of M1.

Simba, its main Singapore subsidiary, grew monthly paid mobile active services to around 1.41 million, up from 1.25 million at 31 July 2025, while broadband subscribers exceeded 46,000. Simba’s fibre broadband business claimed “Singapore’s Fastest Internet Download” and “Most Reliable Internet Speed” awards from Ookla for the second half of 2025.

Tuas’ results included S$10.5 million in one-off costs related to M1 acquisition activity, and the acquisition remains subject to final regulatory approval.

What did Tuas management say?

Chairman David Teoh said:

This half saw strong growth in both our mobile and broadband businesses, alongside positive net profit and robust cash generation, while the M1 acquisition presents an exciting opportunity for our group.

What’s next for Tuas?

Looking ahead, Tuas is focused on closing the M1 acquisition, which it views as a transformative deal for Simba and the wider Singapore market. Equity funding is in place, but finalisation depends on regulatory approval, expected later in 2026.

Operationally, the company aims to keep expanding its mobile and broadband market share in Singapore, leveraging recent awards and continued 5G network investments.

Tuas share price snapshot

Over the past 12 months, Tuas shares have declined 5%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.