[%ZnbS%] 
Research by PIB
Outperform – TP of MYR 1.30

“Recovery On Track ” 

SKP Resources (SKP) reported a healthier 4QFY24 net profit of RM24.7m (+53.1% YoY, +5.3% QoQ) on the back of steady revenue contribution of RM458.8m (-5.1% YoY, +1.3% QoQ), the latter reflective of gradual recovery in product demand. Profit margins also improved as management undertook optimization exercises to mitigate hikes in production cost amid reduced economies of scale from lower sales orders. Cumulative FY24 net profit of RM96.8m (-31.1% YoY) is above our and consensus estimates a106% and 105% of full-year numbers respectively.

Analyst(s):
Ching Weng Jin
[%Omnw%]

$KLSE-SKPRES 
Research by PIB
Outperform – TP of MYR 1.30

“Recovery On Track ” 

SKP Resources (SKP) reported a healthier 4QFY24 net profit of RM24.7m (+53.1% YoY, +5.3% QoQ) on the back of steady revenue contribution of RM458.8m (-5.1% YoY, +1.3% QoQ), the latter reflective of gradual recovery in product demand. Profit margins also improved as management undertook optimization exercises to mitigate hikes in production cost amid reduced economies of scale from lower sales orders. Cumulative FY24 net profit of RM96.8m (-31.1% YoY) is above our and consensus estimates a106% and 105% of full-year numbers respectively.

Analyst(s):
Ching Weng Jin
research@publicinvestbank.com.my