Press Metal's 1Q net profit rises 13.2% to RM461.76mil
Press Metal group chief executive officer Tan Sri Paul Koon Poh Keong
KUALA LUMPUR: Press Metal Aluminium Holdings Bhd's net profit for the first quarter ended March 31, 2025 (1Q 2025), rose by 13.2 per cent to RM461.76 million from RM408.03 million in the same period last year, mainly due to higher metal prices and stronger profit contribution from associated companies.
Revenue also increased by 7.8 per cent to RM3.89 billion from RM3.61 billion due to higher metal prices during the current year quarter under review.
"Further supported by improved contributions from associates, profit after tax and minority interests (Patami) increased at a faster pace than revenue, rising by 13.2 per cent to RM461.77 million in 1Q FY2025,' it said in a Bursa Malaysia filing.
Press Metal declared a first interim dividend of 2.0 sen per share for 1Q 2025, payable on June 24, 2025. This is higher than the 1.75 sen declared in 1Q 2024.
Group chief executive officer Tan Sri Paul Koon said going forward, there remains considerable uncertainty surrounding the US tariff policies and how they will ultimately unfold following the 90-day pause, as negotiations between the US and various countries are ongoing.
He said that at this juncture, assessing the full scale and scope of their impact on the broader economy and consumer demand is premature.
"We may be entering a period marked by more frequent supply shocks and disruptions to the global supply chain, which could potentially reshape global aluminium trade flows.
"Nevertheless, there are opportunities for our low-carbon aluminium products and the relocated manufacturing operations to this region,' he added. - Bernama
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