KUALA LUMPUR (Aug 25): SKP Resources Bhd's net profit for the first quarter ended June 30, 2017 surged 82.8% to RM33.36 million, from RM18.25 million a year earlier, on higher revenue recorded from existing key customers.

Earnings per share rose to 2.71 sen from 1.61 sen in the previous year's first quarter, the group said in a bourse filing today..

Quarterly revenue climbed 63.7% to RM524.88 million from RM320.56 million, read the filing.

SKP said it is confident in reporting consistent positive growth in its bottomline moving forward, backed by strong orderbooks from its existing customers and operational efficiency.

"Going forward, SKP shall keep its sight firmly to develop its market further in the electronic manufacturing service sector and continue to pursue vertical integration status," it said.

SKP's share price closed 1.4% or 2 sen lower at RM1.45, valuing the group at RM1.81 billion.