KUALA LUMPUR (May 27): SKP Resources Bhd bagged a record high net profit for the financial year ended March 31, 2022 (FY22) at RM169.83 million, as it was able to benefit from economies of scale and increased efficiency in its manufacturing process over time. The net profit in FY22 was 27.56% higher than in the preceding financial year, when the group recorded RM133.24 million. The group’s net profit in the fourth quarter ended March 31, 2022 (4QFY22) climbed 43.75% to RM51.19 million from RM35.61 million, as its revenue increased 39.68% to RM576.85 million from RM412.99 million. In terms of quarter-on-quarter (q-o-q), 4QFY22’s net profit was up 11.13% from RM46.06 million, despite a 14.22% q-o-q drop in revenue from RM672.5 million, buoyed by an improved net profit margin. SKP Resources shares ended four sen or 2.78% higher at RM1.48, giving the group a market capitalisation of RM2.31 billion.
