Higher prices, good weather cited in leap in nickel firm income

The country’s second largest nickel producer Global Ferronickel Holdings Inc. (FNI) saw its net income for the first semester of 2019 leap to P105.3 million against P4 million in the same period in 2018.

In a regulatory filing, FNI also reported a 25-percent revenue growth to P1.77 billion from P1.43 billion a year ago.

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

In the first six months of 2019, FNI shipped 1.8 million wet metric tons (WMT) of nickel ore, 16.9 percent higher against its shipment in 2018./TSB