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Press Metal Aluminium Announces Q2 Results

Metal News - Published on Thu, 22 Aug 2019

Image Source: SG
Press Metal Aluminium Holding Berhed announced that its group registered revenue of RM2.13 billion in Q2 2019 as compared to RM2.44 billion in Q2 2018. Revenue decreased by RM305.24 million or 12.52% mainly due to the lower metal price during the current year quarter. The Group profit before tax dropped from RM221.42 million in Q2 2018 to RM 123.47 million. PBT declined was in tandem with the lower metal price as compared to Q2 2018.

The Group recorded a revenue of RM4.30 billion for the six months period ended 30 June 2019, representing a reduction of RM259.42 million or 5.68% as compared to the same period last year. The decline was mainly due to the softening of metal price during the period under review.

For the last few quarters, we were operating in challenging macro environment exacerbated by on-going trade tensions. Overall, we deem 2019 as a challenging year but our low-cost model ensured we remained profitable. With alumina prices dropping to approximately USD 300 per tonne in August 2019 from the year high of USD 417, we expect margins to improve in the later part of 2019.

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Posted By : Amom Remju on Thu, 22 Aug 2019
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