KUALA LUMPUR: Plastic packing firm SLP Resources Bhd has projected a busy fourth quarter, but cautioned that logistic issues and lack of workers may hamper its recovery.

       "With peak seasons ahead, improving and more manageable regional Covid-19 situations, the Group expects to be busy for the remaining period of the year. However, the Group also foresees logistics and shortages of workforce remaining as challenges to be addressed going forward," the company said in a filing today.

       This was after strict Covid-19 measures in the third quarter has impacted the group's earnings.

       Net profit in the three-month ended Sept 30 fell 30% to RM3.08,mil from RM4.4mil a year ago, while revenue slipped 2% to RM36.16mil.

       Despite the weaker results, the company has declared an interim dividend of 1.5 sen per share, bringing year-to-date payout 4 sen a share.

       "The Group had experienced unprecedented interruptions in overall production planning, production capacity utilisation and workflow due to the restriction of 60% workforce compliance," commenting on the latest quarterly results.

       "The situation was further aggravated when temporary plant closure order was received from the Ministry of Health (KKM) as per announcement to Bursa Malaysia on Sept 10," it added.

       SLP Resources, however said that it had already received government's approval to operate at 100% capacity from October onwards.

       "This much anticipated approval has spurred the Group to work tirelessly to ensure the fulfilment of backlog orders and deliveries. The Group has maintained communications with clients to secure confidence mutually," it said.