KUALA LUMPUR (May 30): SKP Resources Bhd said net profit for its fourth quarter ended March 31, 2018 (4QFY18) fell 10.4% to RM28.61 million, from RM31.93 million a year ago, in tandem with a decline in revenue.

The integrated electronics manufacturing services (EMS)  provider also saw higher operating expenses and a 65% drop in other operating income during the quarter, according to its stock exchnage filing today.

This resulted in its earnings per share slipping to 2.33 sen, from 2.68 sen a year ago.

Quarterly revenue stood 20.4% lower at RM466.78 million compared with RM586.54 million in 4QFY17.

For the full year, SKP Resources posted a 23% increase in net profit to RM127.1 million, from RM103.32 million in FY17.

Revenue grew 8.3% to its record high of RM2.1 billion from RM1.94 billion.

“SKP group is confident of reporting consistent positive growth in the bottom line moving forward, backed by the strong order books from its existing customers and operational efficiency.

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

Shares in SKP Resources closed five sen or 3.07% lower at RM1.58, giving the group a market capitalisation of RM1.98 billion.

The stock has declined 30.7% year-to-date, from its closing of RM2.28 on Dec 29, 2017.