Key Highlights

  • RAN shares fell 20.00% to $0.12 on 1 September following release of H1 2026 results.
  • Revenue increased 11.4% to US$1.037 million, while net loss widened to US$683,000 from US$365,000.
  • Gross profit rose 25% to US$258,000, with gross Margin improving to approximately 25% from 22%.
  • Other Income fell to US$33,000 from US$464,000, reflecting non-recurring items recorded in the prior period.

Range International Limited (ASX:RAN) released its results for the half-year ended 30 June 2026, reporting a rise in Revenue alongside a wider net loss compared with the prior corresponding period. Shares in the company fell 20.00 percent, or $0.030, to $0.12 on 1 September, following the release of the half-year report.

Revenue from ordinary activities increased 11.4 percent to US$1,037,000, compared with US$931,000 in H1 2025. However, the loss from ordinary activities after tax attributable to members widened to US$683,000, compared with US$365,000 in the prior corresponding period, an increased loss of US$318,000, or 87.0 percent. Net loss for the period attributable to members was also US$683,000. Earnings Per Share came in at a loss of 3.82 cents, compared with a loss of 3.88 cents in H1 2025.

Drivers of the Wider Loss

The company explained that the increase in the reported loss was significantly affected by the unusually high level of Other Income recognised in the prior corresponding period. Other Income was US$33,000 in H1 2026, compared with US$464,000 in H1 2025, a reduction of approximately US$431,000. The company noted that H1 2025 had benefited from non-recurring items, including income associated with surplus asset disposals and the Reversal of an IDR485 million tax provision.

The company said the US$431,000 reduction in Other Income was greater than the US$319,000 increase in the statutory loss, and that, viewed in this context, the underlying operating performance of the group improved year-on-year notwithstanding the higher reported loss.

Gross Margin and Expense Movements

Gross profit increased 25 percent to US$258,000, with gross margin improving to approximately 25 percent from 22 percent in the prior corresponding period. The company said most major expense categories were flat or lower during the half, with the principal increases being employee benefits expense, up approximately US$80,000, partly reflecting higher equity-based remuneration and a lower allocation of Indonesian salary costs to cost of sales.

Sales and Marketing expense rose approximately US$51,000, principally reflecting freight costs, while finance costs increased approximately US$20,000 following additional Debt funding. The company also noted that the 11 percent increase in group revenue understates the progress made in broadening the customer base of its Re>Pal recycled plastic pallet Business in Indonesia, given that H1 2025 revenue had benefited substantially from deliveries to a single customer, FFI, which represented approximately 45 percent of Indonesian domestic sales in that period.

Corporate and Governance Update

During the half, Neil Macdonald resigned as Non-Executive Director effective 30 June 2026. Russell Kennett continued as Chief Executive Officer, a role he was appointed to effective 31 January 2025, and David Hwang, Principal of Confidant Partners, continued as Company Secretary, a role he has held since 15 November 2023.

Range International's principal activities remain the manufacture of recycled plastic products for sale and rental, with its ThermoFusion technology used in Indonesia to produce plastic pallets from 100 percent mixed waste plastics.

Conclusion

Range International's H1 2026 results show revenue growth of 11.4 percent and an improved gross margin, but a widened statutory net loss of US$683,000 driven primarily by the absence of the non-recurring other income items that benefited the prior corresponding period. With most Operating Expense categories held flat or reduced and the underlying customer base for its Re>Pal business broadening, the wider headline loss reflects a comparison base effect rather than a deterioration in core trading performance, though shares fell 20 percent following the release of the results.