Press Metal Q1 net profit jumps 35% to a record MYR 624.5M on higher aluminium prices

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Press Metal Aluminium Holdings posted a record net profit of MYR 624.5 million for the first quarter ended March 31, 2026 (Q1 FY2026), up 35.2 per cent from MYR 461.77 million a year earlier, extending its streak to a third consecutive quarter of record earnings.

The aluminium smelter said stronger aluminium prices, higher sales volumes and lower input costs supported the earnings growth.

Quarterly revenue rose 5.2 per cent to MYR 4.1 billion, driven by improved delivery volumes and firmer realised aluminium prices.

The group declared a first interim dividend of 2.5 sen per share, payable on June 30, representing a payout ratio of 33 per cent.

On a quarter-on-quarter basis, profit before tax increased 9.6 per cent, supported by firmer metal prices despite the ringgit strengthening against the US dollar and lower profit contributions from associated companies.

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Press Metal said it expects satisfactory performance for the full financial year, backed by stronger aluminium prices and moderated alumina input costs.

At the same time, the company warned that supply disruptions linked to the Middle East conflict are reshaping regional metal trade flows and driving prices and premiums higher. It also cautioned that logistics cost pressures and broader macroeconomic uncertainty could weigh on demand.

“We will continue to closely monitor developments in the global market while remaining focused on operational resilience, disciplined execution and capturing growth opportunities as they arise,” group chief executive officer Tan Sri Paul Koon Poh Keong said in a press statement.

Press Metal shares closed unchanged at MYR 9 on Thursday, giving the company a market capitalisation of MYR 74.2 billion. The stock has climbed 79 per cent year to date after reaching a record high of MYR 9.10 on May 22.