Inco's profit down

JAKARTA (JP): PT International Nickel Indonesia's unaudited net profit for this year's first quarter fell from US$7.2 million (Rp 17.04 billion) last year to $7.1 million.

The company, which operates in Soroako, South Sulawesi, said yesterday the decline was because of smaller deliveries and lower nickel prices.

The company's realized price for nickel in matte averaged $2.59 a pound, down $2.83.

Nickel in matte production fell from 25.1 million pounds to 17.7 million pounds. (09)