Steady earnings seen for Press Metal in 1Q24

PETALING JAYA: Hong Leong Investment Bank Research (HLIB Research) expects Press Metal Aluminium Holdings Bhd to post steady earnings for the first quarter of its financial year 2024 (1Q24) although rising costs may drag on margins.

“We expect Press Metal’s 1Q24 core earnings to come in at the range of RM330mil-RM350mil, representing 21% to 22% of our FY24 forecasts, barring unforeseen swings in cost structures.