Nickel Asia net income up 12%

NICKEL Asia Corp. announced an attributable net income of P6.90 billion, up 12 percent from the P6.17 billion reported during the same period last year. The company's revenues rose by 2 percent to P21.51 billion in the first nine months of 2022 from P21.03 billion last year, owed largely to higher nickel ore prices and favorable exchange rates.

The company's five operating mines only sold a combined 12.44 million wet metric tons (WMT) of nickel ore during the first three quarters of the year, a decrease of 14 percent from 14.44 million WMT in the same period last year.