Press Metal Q2 net profit surges

Group chief executive officer Tan Sri Paul Koon (pic) said yesterday that global demand for aluminium, especially billets, increased substantially during the first half of the year compared to the same period of the preceding year.

PETALING JAYA: Press Metal Aluminium Holdings Bhd’s net profit surged nearly three-fold year-on-year (y-o-y) to RM255.58mil in the second quarter ended June 30, bolstered by higher realised aluminium prices and increased production output.

For comparison, the group recorded a net profit of RM90.07mil in the same quarter a year earlier.