KUALA LUMPUR (Feb 22): Integrated electronic parts manufacturer SKP Resources Bhd’s net profit in its third quarter ended Dec 31, 2017 (3QFY18) slipped 1.25% to RM30.04 million from RM30.42 million a year ago, as lower cost of sales and operating expenses was offset by a drop in revenue.

Quarterly earnings per share (EPS) slipped to 2.45 sen, from 2.58 sen in the same quarter last year. Also contributing to the slight decline was a difference in product mix, said SKP in a filing.

Revenue for the quarter declined 10.57% to RM518.69 million from RM580.02 million in 3QFY17.

For its nine-month period ended Dec 31, 2017 (9MFY18) SKP saw net profit rise 37.93% to RM98.47 million from RM71.38 million previously, as revenue rose 20.69% to RM1.64 billion from RM1.36 billion in 9MFY17 contributed by bigger purchase from existing key customers in the period.

Moving on, SKP said it is confident of reporting “consistent positive growth in the bottom line” backed by strong order books from existing customers.

“Going forward, SKP shall keep its sight firmly to develop its market further in the electronics manufacturing services sector and continue to pursue vertical integration status,” it said.

Shares of SKP traded unchanged at RM1.89, giving it a market capitalisation of RM2.36 billion.