Press Metal posts steady Q3 profit on favourable pricing

KUALA LUMPUR (Bernama) -- Press Metal Aluminium Holdings Bhd recorded a slight increase in net profit to RM121.98 million for the third quarter ended Sept 30, 2020, compared with RM121.51 million in the same period last year.

However, the Southeast Asia region’s leading aluminum producer saw its revenue slipping to RM1.86 billion from RM2.12 billion previously mainly due to the impact of COVID-19 disruptions beginning in March 2020 which had significantly affected the aluminium selling price.