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Nickel Asia income up 9pct

Metal News - Published on Mon, 18 Mar 2019

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Philippine Daily Inquirer reported that with a big enough room for expansion despite competition from Indonesian producers, Nickel Asia Corp said its full year net income rose by 9 percent to P3 billion in 2018. Earnings before interest, tax, depreciation and amortization increased 11 percent to P7.6 billion.

President Martin Antonio G. Zamora said in a statement that “Despite the challenges brought about by the increasing ore supply from Indonesia, we are very pleased by the company’s performance during the year. As we look at the medium-term prospects of our company, we believe that LME-linked nickel has the most potential to outperform the commodity market given the evolution of battery technology. We are fortunate that a sizeable segment of our market is able to capture this.”

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Posted By : Rabi Wangkhem on Mon, 18 Mar 2019
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