Inco's profit jumps 37%<\/p>\n
JAKARTA (JP): The publicly listed PT International Nickel
\nIndonesia (Inco) saw its profit increase during this year's
\nsecond quarter by 37.12 percent to US$18.1 million from $13.2
\nmillion in the corresponding period of last year.<\/p>\n
The company said in a statement yesterday that the results for
\nthe second quarter of this year reflected higher prices and
\nincreased deliveries, which were partially offset by increased
\nunit production costs.<\/p>\n
According to the statement, the production cost increase,
\nrelative to the corresponding 1995 period, was largely
\nattributable to higher oil costs and the increase of plant
\nmaintenance costs.<\/p>\n
Production of nickel in matte during the second quarter was
\n25.6 million pounds at a net realized price averaging $2.84 per
\npound, compared to 25.5 million pounds at an average price of
\n$2.62 per pound during the same period last year.<\/p>\n
During the first half of this year, the company's net profit
\nwas recorded at $39.5 million, or 16 cents per share, compared
\nwith $39 million or 16 cents per share, in the corresponding
\nperiod of last year.<\/p>\n
Production of nickel in matte during the first half of this
\nyear was recorded at 50.7 million pounds at an average price of
\n$2.84 per pound, against 49.0 million pounds with an average
\nprice of $2.89 per pound for the corresponding 1995 period.<\/p>\n
The selling price of the company's nickel in matte, an
\nintermediate product which is sold under long term contracts, is
\ndetermined by a formula which is based on the London Metal
\nExchange cash price. (13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/incos-profit-jumps-37-1447893297",
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