Press Metal Aluminium reports a revenue drop of 11% YoY for Q3 2019

Press Metal Aluminium in its third-quarter financial report, ended on September 30, 2019, announced that its revenue stood at 2.12 billion RGT, after falling by 11 per cent year on year. In Q3 2018, the company’s revenue had totalled at 2.37 billion RGT.

In the report, the company also revealed that in the first nine months of 2019 (January-September), it generated total revenue of 6.42 billion RGT, down 7.4 per cent from 6.93 billion RGT in Q3 2018.

The net profit also dropped by 25.2 per cent year on year from 162.5 billion RGT to 121.5 billion RGT. The total net profit during January-September recorded a decrease too by 28.3 per cent year on year. From 473.6 billion RGT in the first nine months of 2018, the net profit during the same period of 2019 came in at 339.5 billion RGT.

Basic earnings per share, according to the report, dropped 27.8 per cent from 4.17 RGT in Q3 2018 to 3.01 RGT in Q3 2019. In the entire nine months of CY2019, the basic earnings per share totalled at 8.46 RGT, down 30.8 per cent from 12.22 RGT in the corresponding period last year.