Singapore company Nam Lee Pressed reports 28% higher revenue driven by aluminium sales

Nam Lee Pressed Metal Industries Limited, a Singapore-based aluminium manufacturing company, reported higher revenue and stable profit for the first half of the financial year ended March 31, 2026, supported by stronger aluminium and reefer container sales.

Revenue for the six months rose 28 per cent year-on-year to SGD 127.4 million (USD 99.48 million) from SGD 99.5 million (USD 77.7 million) in the corresponding period last year.

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Profit after tax increased 4.3 per cent to SGD 12.2 million (USD 9.52 million), while earnings per share rose to 5.03 Singapore cents (USD 0.039) from 4.82 Singapore cents (USD 0.037) a year earlier.

The company said revenue growth was mainly driven by higher reefer container sales, although this was partly offset by weaker revenue from its construction business.

Gross profit margin declined to 20.9 per cent from 23.1 per cent due to changes in product mix.

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Operating cash flow turned negative at SGD 11.7 million (USD 9.1 million) due to higher working capital requirements, including increases in inventories and trade receivables.

Inventories rose to SGD 74.1 million (USD 57.86 million) from SGD 63.2 million (USD 49.35 million), while trade receivables and deposits increased to SGD 78.8 million (USD 61.53 million) from SGD 65.8 million (USD 51.38 million). Contract assets also increased due to higher retention from construction billings.

Loans and borrowings increased to SGD 24.4 million (USD 19.05 million) from SGD 10.6 million (USD 8.2 million) following higher utilisation of trust receipts.

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Other operating expenses rose to SGD 2.7 million (USD 2.1 million) from SGD 0.3 million (USD 234 thousand) in the previous year, mainly due to expected credit loss allowances and foreign exchange losses. Other income increased to SGD 1 million (USD 781,000), supported by fair value gains on derivatives.

Nam Lee Pressed Metal Industries Limited did not declare an interim dividend for 1H2026, citing working capital requirements and uncertain macroeconomic conditions.

Net asset value per share increased to 80.45 Singapore cents (USD 0.63) from 77.29 Singapore cents (USD 0.60).

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The company said its aluminium business is expected to perform better than the previous financial year, while its building products business is expected to remain stable due to steady conditions in Singapore’s construction sector.

Chairman Lam Hock Yeoh said, “The Group’s operating environment is expected to be influenced by external business sentiment, duration and intensity of the Middle East conflict, rising cost pressures, particularly from energy price volatility, logistics costs, and imported input prices.” The company further added that it will continue focusing on cost management, operational efficiency and project execution.