Nickel Asia H1 net income jumps 149%

ABS-CBN News

Posted at Jul 29 2011 05:12 PM | Updated as of Jul 30 2011 01:12 AM

MANILA, Philippines - Nickel Asia Corp. reported on Friday that its first-half earnings more than doubled on higher metal prices.

In a statement, Nickel Asia said net income in January to June surged 149% to P1.73 billion from P695 million in the same period last year.

It said it sees record shipment volumes this year amid strong market demand.

Nickel Asia, partly owned by Japan's Sumitomo Metal Mining Co. Ltd., is the Philippines largest nickel producer. The Philippines is the world's third-biggest producer of nickel ore last year. - With a report from Reuters