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Higher Prices & Good Weather Cited for Leap in Nickel Firm Income

Metal News - Published on Tue, 20 Aug 2019

Image Source: Business Manager
Inquirer net reported that Philippine’s second largest nickel producer Global Ferronickel Holdings Inc saw its net income for the first semester of 2019 leap to PHP 105.3 million against PHP 4 million in the same period in 2018. In a regulatory filing, FNI also reported a 25% revenue growth to PHP 1.77 billion from PHP 1.43 billion a year ago.

FNI president Dante Bravo said that “We have taken advantage of favorable weather conditions and the improving prices of nickel and nickel ore.”

In the first six months of 2019, FNI shipped 1.8 million wet metric tons of nickel ore, 16.9% higher against its shipment in 2018.

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Posted By : Amom Remju on Tue, 20 Aug 2019
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