Nickel Asia Corp. (NAC) reported a 41-percent increase in attributable net income in the first half of the year to P3.83 billion from P2.73 billion in the same period last year.
Despite lower ore volume sold, revenues increased by 7 percent to P11.78 billion from P11 billion last year.
NAC said higher metal prices and favorable exchange rates were the main drivers of the improved financial performance.
NAC’s four operating mines sold 6.95 million WMT of nickel ore, down by 16 percent from 8.30 million WMT in the same period last year.
