2024: Press Metal posts a 44% hike in full-year net profit supported by strong aluminium prices
Press Metal Aluminium Holdings Bhd, a Malaysia-based largest aluminium smelter in Southeast Asia, has announced its fourth-quarter and full-year results of 2024, reporting stupendous financial gains supported by increased aluminium prices on LME and strong global demand.
Figures and numbers revealed by Press Metal indicate a 38.55 per cent jump in net profit, reaching RM445.27 million at the end of the December quarter from RM321.39 million a year ago. For the entire year, the figure hit RM1.76 billion compared to RM1.22 billion in 2023.
The company's profit before tax in Q4 was $500.4 million, reflecting an increase of 25 per cent from $400.2 million in Q3 2023. Representing continued hikes, the full-year's profit before tax reached $2.3 billion versus $1.65 billion.
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