• Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
HERALD EXPRESS | News in Cordillera and Northern Luzon
ADVERTISEMENT
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us
No Result
View All Result
HERALD EXPRESS | News in Cordillera and Northern Luzon
No Result
View All Result
Home Business Business and Livelihood

Philex records 6 percent drop in first semester income

Dexter A. See by Dexter A. See
July 30, 2015
in Business and Livelihood, CAR, Region
0
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

TUBA, Benguet – Philex Mining Corporation reported a 6 percent drop in its income for the first semester of this year with a total of P565 million net profit compared to the same period last year that registered P600 million gain following the continuous drop in the global metal prices.

Engr. Eulalio B. Austin, jr., Philex president and chief executive officer, noted that net income attributable to equity holders of the parent company was at P607 million (1H2014:P627 million) while core not income amounted to P520 million (1H2014:P559 million).

He said Philex’s Padcal mines operated for 178 days in the first six months of this year and milled over 4.47 million tons of ore.

The Philex official revealed the tonnage translated to 53,689 ounces of gold produce compared to the 52,286 ounces produced during the same period last year as grades improved to 0.442 grams per ton compared to the previous 0.436 grams per ton. At the same time, Austin disclosed copper output reached 16.9 million pounds this year compared to the 18.2 million pounds produced during the same period last year with copper grades slightly lower at 0.206 percent compared to 0.218 percent in the same period last year.

According to him, the produce resulted to an income of P2.84 billion for gold this year compared to last year’s P3.088 billion during the same period last year and P1.870 billion for copper compared to the P2.453 billion income for copper last year as averaged realized prices for gold were lower by 11 percent at $1,190 per ounce compared to $1,341 per ounce and while copper prices were lower by 16 percent at $2.61 per pound compared to $3.09 per pound last year.

Austin cited the aforesaid price levels were the lowest recorded in the last five years but the company remains optimistic that the global mineral prices will stabilize in the coming months.

He claimed revenues from petroleum and other sources, which were affected by lower output and volatility in world crude prices, fell to P83.5 million compared to the P197.8 million while revenues from silver amounted to P37.6 million compared to the P43 million last year

The Philex executive added total consolidated revenues for the same period amounted to P4.886 billion compared to the P5.782 billion for the similar period last year.

He explained total cost and expenses as the externally environment remained extremely challenging, the company remained relentless in managing its cost and reducing its expenses across all fronts and as a result, consolidated operating cost and expenses in the first half of this year were 17 percent lower year-on-year at P3.728 billion compared to P4.468 billion last year.

Specifically, he claimed cost went down 14 percent to P2.335 billion compared to P2.706 billion last year while general and administrative expenses decreased 33 percent to P363.8 million compared to P540 million last year.

Previous Post

BIBAK, Dairy Farm demolitions to push through

Next Post

Abra governor grateful to book donors

Next Post

Abra governor grateful to book donors

ADVERTISEMENT

Recent News

Life Builder Fellowship to subsidize the SSS contributions of volunteers

Life Builder Fellowship to subsidize the SSS contributions of volunteers

June 5, 2025
Bagong Pag-asang hatid ng Social Security Act of 2018

Benepisyo sa Pagpapalibing

June 5, 2025
Cabarrubias is full-pledged City Treasurer

Gov’t earns PhP200 million from registration of land titles

June 5, 2025
Panag-aywan Iti Kailyan brings hope to PDLs – livelihood awaits upon release

Panag-aywan Iti Kailyan brings hope to PDLs – livelihood awaits upon release

June 5, 2025
ADVERTISEMENT
ADVERTISEMENT
HERALD EXPRESS | News in Cordillera and Northern Luzon

Herald Express is a news organization based in Baguio City that has a weekly publication and an online news portal. The newspaper is circulated in the different provinces of Northern Luzon. The name of the fastest-growing publication in town is coined from the word ‘quick messenger’ which is self-explanatory.

Follow Us

Search

No Result
View All Result

© 2024 Baguio Herald Express | Website Design and Development by Neitiviti Studios

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT

Add New Playlist

No Result
View All Result
  • Headlines
  • City/Region News
    • Baguio City
    • CAR
    • Nation
  • Sectoral news
    • Elections
      • Elections – 2022
      • Elections – 2019
    • Agriculture, Fishery and Pets
    • Business & Livelihood
    • Education, Arts & Culture
    • OFW | Migration
    • Environment and Disaster Management
    • Science and Technology
    • Tourism, travel and Events
    • Other Lifestyle
    • Police Beat
  • Health
    • Covid-19 Advisory and Updates
  • Opinion
    • Editorial
    • Columns
    • Timek Ti Umili
  • Sports
  • Other sections
    • Features
    • Photos/Videos
      • Photos
      • Videos
    • Words for reflection
    • Sponsored articles
    • Jobs in Baguio
    • Elections
  • Ads & Notices
    • Obituaries
  • About Us
    • About Us
    • Directory
    • Contribute
    • Advertise
    • Cookie Policy
    • Contact Us

© 2024 Baguio Herald Express | Website Design and Development by Neitiviti Studios