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PRESS METAL POSTS 9M FY18 REVENUE OF RM6.94 BILLION
22 November 2018, Kuala Lumpur - Press Metal Aluminium Holdings Berhad (PMETAL-8869), the largest
Aluminium smelter in South East Asia closed its nine months ended 30 September 2018 (“9M FY18”) with
satisfactory results amidst fluctuation in both aluminium price and raw material costs.
9M FY18 revenue increased by 15.5% to RM6.94 billion compared to RM6.01 billion in the same period of the
prior year. The increase was mainly due to higher metal price in the previous quarters as well as revenue
contribution from Leader Universal Aluminium Sdn Bhd, which was acquired in March 2018.
Net profit attributable to shareholders increased to RM473.6 million, an increase of 4.6% compared to the same
period in previous year. The higher profit is partly aided by proceeds from insurance settlement. The financial
performance would have been stronger if not because of higher raw material prices.
Commenting on thisresult, our Group Chief Executive Officer Tan Sri Paul Koon commented: “We have delivered
another satisfactory set of results amidst continued external uncertainties with the on-going trade tensions. The
outlook remains challenging due to raw material supply disruptions arising from the on-going curtailment of
alumina production in Brazil.
Tan Sri Paul added “Our recently announced proposed acquisition of 50% equity interest in Japan Alumina
Associates (Australia) Pty. Ltd. ("JAA") is part of our strategy to secure a reliable supply of alumina, our key raw
material. JAA gives us access to approximately 230,000 metric tonnes or 5% of total alumina produced from the
Worsley Alumina Project, which is one of the world’s largest, longest life and lowest cost alumina producers.
JAA is our second venture to strengthen ourselves vertically after our investment in a joint venture with Sunstone
Development Co., Ltd in China (“Sunstone”) for the manufacturing of pre-baked carbon anodes, which is another
key consumable in our smelting activities. Sunstone has begun commissioning its manufacturing operations and
is expected to make its maiden delivery in the first quarter of 2019.
We are close to achieving our targeted 50% value-added contribution to our total sales this year. With our
smelters operating at full capacity, we intend to further grow our value-added contribution to 60% by 2019. This
will further enhance our margin and strengthen our position directly with end users”.
About Press Metal Aluminium Holdings Berhad
Press Metal Aluminium Holdings Berhad is a Malaysian-based aluminium company with an extensive global presence. From a modest
beginning as a privately-owned local aluminium extrusion company in 1986, it has grown into a globally integrated aluminium corporation.
With a smelting capacity of 760,000 tonnes and an extrusion capacity of 210,000 tonnes per annum, Press Metal Aluminium Holdings Berhad
is the largest integrated aluminium producer in South East Asia
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Kawkaw
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Posted by Kawkaw > 2018-11-05 17:54 | Report Abuse
Got money but pm..
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