Inco earning up 1st quarter increase
Thursday, April 27 2000 - 04:00 AM WIB
Publicly listed PT International Nickel Indonesia (Inco) announced on Wednesday unaudited net earnings of US$18.1 million in the first quarter of 2000, or seven cents per share, compared to a loss of $2.1 million a year earlier, the Jakarta Post reported.
The company attributed the rise in earnings to higher nickel prices, which was partly offset by higher fuel prices, interest rate, and lower deliveries.
The company said that its recent expansion projects had started to show benefit amid the higher nickel prices. Inco has operation in Soroako in South Sulawesi province.(*)