1. How would you describe Union Gas’ recent financial performance?

Union Gas Holdings is a provider of fuel products in Singapore for over 40 years. Its business segments include liquefied petroleum gas (LPG) cylinders under the Union Gas and Sungas brands, natural gas business which include compressed natural gas (CNG), piped natural gas (PNG) and its diesel business. The group also has a Cnergy fuel station at 50 Old Toh Tuck Road which sells and distributes diesel to retail customers.

Driven by the strong performance of its LPG business, the group has achieved record highs for the financial year ended Dec 31, 2020 (FY2020) and its best performance since listing in July 2017. Despite the Covid-19 pandemic, the group recorded a revenue growth of 9.4% to $86.2 million and a 64.7% y-o-y surge in net profit to $13.9 million in FY2020.

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