SKP sees profit growth in FY22 after strong Q1 start 


KUALA LUMPUR: Electronic manufacturing services (EMS) SKP Resources Bhd expects positive growth in its current fiscal year after a strong start first quarter ended June 30 despite Covid-19 curbs on its operations.

Net profit jumped threefold to RM32mil from RM10mil a year ago on profitable product mix and tighter cost control.

Revenue in the first three months was up 29% to RM515mil, although there was a 60% headcount restriction in operation in June.

"The Group is strategically well positioned in the electronic manufacturing services (EMS) industry and continue to pursue opportunities to grow its market share from existing customers," SKP said in a filing with Bursa Malaysia today.

"Notwithstanding the current market conditions, the Group continues to receive enquiries from both existing and potential new customers for new projects," it added.

The group said it would continue to expand its Printed Circuit Board Assembly (PCBA), injection moulding and engineering capabilities to take advantage of a widened product portfolio.

"Prospects remain good and barring unforeseen circumstances, the Board expects to achieve profit growth for the financial year ending March 31, 2022," it said.

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