Rising aluminium prices lift Press Metal profits 


KUALA LUMPUR: Press Metal Aluminium Holdings Bhd said rising prices of aluminium lifted the group's revenue and profits in the last quarter.

Base metal prices have surged over the second half of 2020, with aluminium currently trading above US$2,000 a tonne.

The largest aluminium smelter in South East Asia on Wednesday reported a 6% increase in net profit to RM142.6mil on revenue of RM2.1bil.

This lifted its full year earnings to RM457mil, or 11.3 sen a share.

Press Metal has declared a fourth interim dividend of 1.25 sen a share in the last quarter, bringing its full year payout to 4.25 sen a share.

"We have much to look forward to in 2021. Our Phase 3 smelter commenced production in late December 2020 and we anticipate to operate at full capacity come the second half of 2021," Group CEO Tan Sri Paul Koon said in a statement.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Press Metal , aluminium

   

Next In Business News

Labuan FSA DG, chairman announce surprise resignations
BIMB shares to be suspended on Tuesday
Ant Group to restructure under central bank agreement
Comfort Gloves plans to issue free warrants�
Bintai Kinden enters MoU to buy builder Johnson Medical for RM50mil�
MAG launches sustainability blueprint
TNB to increase percentage of bumi vendor participation in power supply
Reservoir Link wins three-year Petronas Carigali well repair contract �
KLCI snaps out of winning streak, down 3.83 points
Abu Dhabi's ADNOC, Dutch-listed OCI weigh IPO of fertiliser joint venture

Stories You'll Enjoy


Vouchers