Catalist-listed ecoWise Holdings has reported earnings of $1.5 million in the FY2025 ended April 30, reversing from its loss of $1.3 million in FY2024.

 

Earnings per share (EPS) for the period stood at 0.057 cents versus its loss per share of 0.136 cents in FY2023 on a fully diluted basis.

 

Revenue for the period rose by 9% y-o-y to $34.3 million mainly due to the renewable energy segment which saw a &ldquo significant boost&rdquo from a new contract secured in March 2024 with a major food manufacturer. The contract alone contributed $2.79 million to revenue through the sale of spent grain. Other factors, which contributed to the renewable energy segments&rsquo revenue included ecoWise&rsquo s ISO-tank heating revenue, which rose by $128,000 as well as other revenue streams including the sale of used bulk bags, scrap items and drying of orange peels, which rose by $218,000.

 

Gross profit increased by 10% y-o-y to $5.5 million with gross profit margin increasing by 0.08 percentage points y-o-y to 16.17%.

 

Other income surged by 53% y-o-y to $1.4 million mainly thanks to a gain on disposal of $955,000 of assets held for sale. Other items included an $84,000 gain from the reversal of provision for reinstatement of leased properties, $80,000 from profit sharing in a joint project, as well as $65,000 in government credits. The higher other income was also due to a $70,000 gain from the derecognition of lease liabilities, $51,000 gain from disposal of fixed assets, $22,000 from stock revaluation gain and other gains of $11,000. These were primarily offset by a $23,000 currency exchange loss and allowance for doubtful debts of $86,000.

 

Profit from continuing operations stood at $589,000, reversing from a loss of $1.3 million last year. Profit from discontinued operations stood at $935,000. The gains relate to the disposal of Hivern and its subsidiary, Changyi Enersave Biomass to Energy Co., Ltd. ecoWise Solutions and its subsidiary, Chongqing ecoWise Investment Management Co., Ltd. and ecoWise RubberTech Pte. Ltd. and its subsidiary, Chongqing eco-CTIG, Rubber Technology Co., Ltd.

 

The disposal of ecoWise Solutions and ecoWise RubberTech were completed on April 30.

 

Shares in ecoWise closed 0.1 cents higher or 5% up at 2.1 cents on June 27. The company&rsquo s shares resumed trading on the Catalist board in April this year after being suspended for almost four years.