Press Metal Aluminium Holdings Bhd has reported a revenue of RM8.2 billion for financial year 2017.

Its profit after tax (PAT) saw an increase by 23 per cent totalling at RM 593.4 million compared to RM 483.6 in FY16.

The Company declared total dividends of 6.0 sen per share for FY17 and this translated to a payout ratio of close to 40 per cent of profits.

“While we are satisfied with our results and achievements for FY17, we are striving for further growth in 2018.

“We started in February 2018 with the acquisition of Leader Universal Aluminium.

“Our inaugural bonds issuance has put us on a stronger financial footing to consider suitable growth opportunities both upstream and downstream,” said Press Metal Aluminium Holdings Bhd group chief executive officer, Tan Sri Paul Koon.

The group tapped into the bond market for the first time in 2017, raising USD400 million
through the issuance of five-year senior notes.

The issuance was oversubscribed by close to 10 times with strong participation as global fixed income investors flocked to subscribe the notes in October 2017.

“We had a decent start for FY2018 despite certain headwinds. Our management is closely monitoring the changing market landscape and has control measures in place, to respond to price volatilities on both aluminium and raw material fronts.

“Such external shocks have proven the resilience of aluminium prices which could benefit producers like us,” he added.

Twitter