SP International Holding (1695.HK) Q1 2025 Earnings Report

SP International Holding Limited reported solid QQ1 2025 performance, with revenue of 36.37 million MYR, up 29.13% year over year and 25.06% quarter over quarter. Gross profit reached 7.54 million MYR for a gross margin of 20.7%, while operating income was 4.47 million MYR and net income 4.04 million MYR, yielding an 11.1% net margin and EPS of 0.0037 MYR. The year‑over‑year improvement in net income reflects strong operating leverage on higher volumes, offset by a modest decline in gross margin versus prior-year periods and a softer QoQ margin trajectory, suggesting some seasonal or input-cost pressures in QQ1 2025.

Management commentary is not provided in the input transcript, limiting the ability to quote directly from the earnings call. Nevertheless, the reported metrics imply continued demand for SP’s coconut-based product portfolio (brands Santan, Cosip, Kerra, Rasa Enak) and broader distribution reach across West Indies, SE Asia, the Middle East, North America, and other international markets. Investors should monitor input costs, regional mix, and potential margin recovery as scale increases, alongside any explicit guidance from management in subsequent communications.