Nickel Asia Corp. (NAC) booked a 12 percent growth in its attributable net income for the first nine months of the year at P6.9 billion compared to the previous year’s P6.17 billion, mainly due to higher nickel ore prices and favorable exchange rates.
The company also recorded a 2 percent improvement in its revenues as it reached P21.51 billion from P21.03 billion last year, despite lower ore sales volume sold during the period.
NAC’s five operating mines sold a combined 12.44 million wet metric tons (WMT) of nickel ore during the first nine months of the year, a decrease of 14 percent from 14.44 million WMT in the same period last year.
The drop in sales volume was almost in direct proportion to unrealized workable days caused by unfavorable weather that adversely affected the company’s mining operations during the period.
