PT Inco H1 net profit up 473 percent

Publicly nickel miner PT International Nickel (Inco) said Wednesday its net rose to US$707 million in the first half of the year, up by 473 percent from $123.28 million in the corresponding period of last year on the back of stronger sales.

 

Sales rose 196 percent to $1.31 billion while operating profit surged 453 percent to $969.15 million, the company said in a financial report published in Bisnis .

 

Inco's major shareholders are CVRD Inco Limited with a 60.8 percent stake and Sumitomo Metal Mining Co., Ltd. with a 20.09 percent stake. (Bodega)