On Tuesday, September 27, LB Aluminium Bhd announced its financial results for the first quarter of FY2023 ended July 31, 2022, revealing a fourfold jump in its net profit (Y-o-Y) to RM12.51 million. Revenue grew 98.22 per cent to RM227 million from RM114.54 million a year ago, attributed to improvements in both aluminium and property segments. LB Aluminium also shared that its earning per share rose to 2.88 sen in Q1.
On a quarter-on-quarter calculation, the group also generated higher revenue by about 5 per cent from RM216.12 million but saw lower net profit of 26.64 per cent from RM17 million.
Going ahead, the company expects to continue generating a steady financial outcome amid strong global demand for aluminium.
LB Aluminium said, “The group’s aluminium business is expected to be bright, supported by sustainable orders from local and overseas customers. The recent stabilisation of the global aluminium prices also augurs well for the group as aluminium is our primary raw material.”
It added, “Barring unforeseen circumstances, the board is cautiously optimistic that the group will be profitable for the forthcoming quarter.”
LM Aluminium is an aluminium extrusion specialist. It offers extrusion for aluminium alloy 1070, 6005, 6061, 6063, 6082, as well as special alloys, with extrusion profiles measuring up to 300mm in CCD and extrusion length up to 12 meters.
source https://www.alcircle.com/news/lb-aluminium-bhd-announces-fourfold-surge-in-net-profit-to-rm12-51-million-for-1qfy23-84708
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