Nam Lee Pressed Metal Industries reported a net profit of S$12.17 million for the six months ended 31 Mar 2026, a 4.3 year-on-year (YoY) increase, as higher contributions from its aluminium operations offset a decline in UPVC earnings.
The Singapore-listed metal fabricator generated revenue of S$127.42 million, up 28 YoY, lifting earnings per share to 5.03 Singapore cents from 4.82 cents a year earlier. The company did not declare an interim dividend, mirroring the prior-year decision.
Segmentally, the aluminium division delivered a pre-tax profit of S$6.75 million, almost double the S$3.35 million recorded a year earlier on robust demand for refrigeration container components. Mild steel and stainless-steel products contributed S$6.52 million, up from S$4.99 million. UPVC earnings fell to S$2.38 million from S$6.20 million, reflecting a lower construction-sector order book. Group pre-tax profit grew 7 YoY to S$15.06 million.
Higher sales came at the expense of margins: gross profit rose to S$26.68 million but the gross margin narrowed to 20.9% from 23.1% amid a less favourable product mix. Administrative costs increased 11 to S$7.84 million on bigger bonus provisions, while other operating expenses climbed to S$2.68 million on higher expected credit-loss allowances and foreign-exchange losses. Finance costs eased 14 to S$0.89 million following lower average borrowings.
Working-capital requirements expanded in tandem with revenue growth. Inventories rose to S$74.05 million from S$63.24 million six months earlier, while trade receivables advanced to S$73.87 million from S$63.92 million. Net operating cash outflow totalled S$11.72 million, and total borrowings increased to S$34.5 million, mainly from higher trust-receipt utilisation.
Looking ahead, the company expects the aluminium segment to outperform the previous financial year, supported by sustained demand in the reefer container market. The building-products unit, which covers mild steel, stainless steel and UPVC, is forecast to track Singapore’s steady construction outlook. Management highlighted external risks such as geopolitical tensions, energy-price volatility and rising logistics costs, and said it will prioritise operational resilience, cost control and timely project execution over the next 12 months.