KUALA LUMPUR (Feb 12): SKP Resources Bhd's (KL:SKPRES) third-quarter net profit tumbled 37% from the corresponding quarter a year earlier, as the electronics manufacturing services provider recorded softer sales volumes, with customers scaling back orders in response to global tariff measures.

Net profit for the third quarter ended Dec 31, 2025 (3QFY2026) fell to RM16.13 million from RM25.61 million in 3QFY2025; revenue dropped 9.2% to RM457.19 million from RM503.73 million, its bourse filing on Thursday showed.

Gross profit margin eased to 11.9% from 12.5% as economies of scale diminished, despite a relatively unchanged cost base. No dividend was declared for the quarter under review.

For the cumulative nine months ended Dec 31, the group's net profit contracted 19.8% to RM70.83 million from RM88.3 million in the corresponding nine months a year ago, while revenue fell 8.3% to RM1.51 billion from RM1.64 billion.

Looking ahead, the group said it plans to continue expanding its printed circuit board assembly (PCBA), injection moulding and engineering capabilities to support a more varied product mix.

At the same time, SKP Resources again flagged that it faced significant credit concentration risk stemming from its reliance on a major customer and reiterated that it is working on diversifying its client base.

The group's major customer is Dyson, with revenue from this single customer accounting for around 70% of its revenue historically.

Shares in SKP Resources closed down 5.5 sen or 8.9% to 56.5 sen on Thursday, valuing the group at RM882.95 million. The stock has shed 49.6% over the past year.