Press Metal net profit up 60.1% to RM409.17mil in 2Q, declares 1.75 sen dividend

Press Metal group chief executive officer Tan Sri Paul Koon Poh Keong

KUALA LUMPUR: Press Metal Aluminium Holdings Bhd's net profit for the second quarter of the financial year ended June 30, 2022 (Q2 FY2022) rose 60.1 per cent to RM409.17 million against RM255.58 million in the same quarter last year, bolstered by improved revenue and contribution from associate companies.

In a filing with Bursa Malaysia, revenue increased 51.8 per cent to RM4.01 billion compared with RM2.64 billion in Q2 FY2021, mainly due to the higher metal price and production output as its Phase 3 smelter achieved full operations in October 2021.