Press Metal net profit slips to RM102m in 1Q

Group chief executive officer Tan Sri Paul Koon said the aluminium company was facing a challenging start to the year due to the escalation of COVID-19 which became a pandemic and affected all countries.

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd has recorded a lower net profit of RM102.56 million in the first quarter ended March 31,2020 (Q1 2020) from RM115.11 million a year ago.

Revenue declined 15.7 per cent to RM1.83 billion versus RM2.17 billion previously, mainly attributed to lower realised aluminium prices as compared to last year.