Aug 1, 2011

INCO reports 9% rise in net profit

PT International Nickel Indonesia Tbk (INCO) recorded net earnings total net earnings in 2011 year-to-date of US$238.1 million were 9% above the same period in 2010 when the company achieved US$218.8 million.
EBITDA in 2011 year-todate of US$366.6 million was 9% above the US$336.2 million obtained in the same period in 2010.  
INCO recorded an average realized price of nickel in matte of US$19,895 per metric ton during 2Q11, compared to US$20,246 per metric ton in 1Q11.
Net sales were US$393.0 million for the 3 months ended June 30, 2011, an increase compared to US$322.4 million in 1Q11. This increase was mainly due to higher deliveries of nickel in matte. In 2Q11 deliveries totalled 19,438 metric tons compared to 15,689 metric tons in 1Q11.  

Disclosure: No position at the stock mentioned above.  

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