Press Metal Churns RM1.2 Billion Profit For FY23, Declares 1.75 sen Dividend

Press Metal Aluminium Holdings Berhad announced its fourth quarter financial results whereby revenue moderated by 9.6% to RM3.53 billion compared to RM3.91 billion in the same quarter of the preceding year which the group said was mainly attributable to lower metal prices. Despite lower aluminium prices, profit after tax and minority interests for 4Q FY2023 increased by 22.9% to RM320.46 million, benefiting from lower raw material prices as well as higher profit contribution from associates.

On a full-year basis, revenue for the twelve months ended 31 December 2023 closed at RM13.80 billion which was reduced from RM15 billion in FY22, while PATAMI also came in lower at RM1.21 billion compared to RM1.4 billion it achieved in the previous year.

The company also declared a fourth interim dividend of 1.75 sen per share payable on 29 March 2024, bringing the total dividend declared in respect of FY2023 to RM576.77 million or approximately 47% of PATAMI.

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