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Apr 29, 2016 @ 8:09

Philex Mining net income rises


PHILEX MINING Corp. saw its net income rise by 38% in the first quarter versus the year-ago level as it kept its costs and expenses low, even as metal prices continued to be unstable.

In a disclosure to the Philippine Stock Exchange on Thursday, the miner said it booked P420 million in earnings in the first-three months of the year, rising from the P305-million recorded in the comparable year-ago period.

Its core net income, or earnings from its main businesses minus its expenses and revenues from other activities, surged 82% to P380 million from P214 million the previous year.

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