SKP Resources records higher profit (BT)

KUALA LUMPUR: SKP Resources Bhd registered a higher profit before tax of RM32.09 million for the six months ended Sept 30, 2012 from RM19.705 million in the previous corresponding period.

Turnover was higher at RM243.901 million for the current period compared with RM169.110 million previously, it said in its filing to Bursa.

The increase in revenue was contributed by the strong surge in demand for the plastic injection moulding segment, as well as value added services such as assembly of plastic products and components for the electrical and electronics industry. -- BERNAMA

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Smartbiz: MACD for SKPRES shows the Histogram has almost completed its top-rounding process and %K crossed over %D. Further to this, both RSI and Stochastic are moving upward. This profit report will help price to break the 20MV and climbing higher. Immediate resistances is 0.38 and then 0.395. There is a possibility that price will test the Fibonacci target of 0.425 if no occurrence of major issue. Immediate support lies at 0.365.