Union Gas Holdings has achieved record earnings since its 2017 listing, with higher demand for gas from both households and commercial customers.

For the year ended Dec 31 FY2020, it reported earnings of $13.9 million, up 64.7% over the preceding year. Revenue in the same period was up 9.4% to $86.2 million.

Teo Hark Piang, Union Gas' executive director and CEO, says that while Covid-19 caused some disruptions to the company’s operations, overall performance was still strong. “We have the advantage of a diversified business where growth from our strongest segment more than made up for the weaker segments,” he says.

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