Press Metal in for solid earnings growth on strong aluminium prices

PETALING JAYA: Press Metal Aluminium Holdings Bhd is expected to chalk up solid double-digit earnings growth in the financial year ending Dec 31, 2024 (FY24) on the back of strong aluminium prices.

“With aluminium price at US$2,500 per tonne, we view that its risk-reward profile remains favourable as Press Metal is set to achieve a solid double-digit earnings growth in FY24, which we deem respectable as a FBM KLCI-constituent blue chip,” said Hong Leong Investment Bank Research (HLIB Research).