By Chester Tay

Press Metal Aluminium Holdings Bhd.'s third-quarter net profit rose 0.4% due to favorable commodity hedges and lower raw-material and finance costs.

Net profit increased to 122.0 million ringgit ($29.8 million) despite revenue falling 12% from a year earlier to MYR1.86 billion, the aluminum producer said Thursday.

For the first nine months of the year, net profit declined 7.3% to MYR314.6 million, while revenue was 16% lower at MYR5.42 billion.

The company said it expects to perform well under the current pandemic circumstances, as it sees positive trends in aluminum demand as industries begin recovering from their lows in the first half of the year.

It said demand from key end-user industries such as the automotive and construction sectors is improving as economies reopen globally.

Write to Chester Tay at chester.tay@wsj.com

(END) Dow Jones Newswires

11-26-20 0535ET