Pacific Radiance (RXS) H1 2025 earnings summary

Executive summary

• 6M 2025 revenue rose 28% YoY to US$24.4m and gross profit increased 89% to US$12.0m; net profit fell 46% to US$8.8m, mainly reflecting lower other operating income.

• Cash and bank balances were US$15.4m at 30 June 2025, while net cash decreased US$2.7m during the half.

Financial highlights

• Revenue was US$24.370m versus US$19.055m YoY; gross profit was US$11.959m versus US$6.343m.

• Profit before tax was US$7.037m versus US$16.031m; net profit was US$8.796m versus US$16.382m.

• Other operating income declined to US$1.864m from US$17.106m, mainly due to the absence of prior-period gains on bank-loan forgiveness and deferred vessel gains.

• General and administrative expenses were US$6.385m versus US$6.516m; other operating expenses fell to US$0.327m from US$0.791m.

• Operating cash flow was US$1.035m versus US$14.080m; net cash outflow was US$2.715m, compared with US$3.101m in 6M 2024.

Outlook and guidance

• Business activities are expected to remain stable over the next 12 months, barring unforeseen circumstances.

• Offshore wind investment and project activity are supporting long-term demand for installation, maintenance and service vessels.