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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