Philex Mining Net Income Up 14% in 1Q2015

Manila—(PHStocks)—Philex Mining Corp. (PSE: PX) has announced a net income of PhP305 million in the first quarter of 2015, up by 14 percent from the same period last year.

Net income attributable to the equity holders of the parent company was PhP329 million, which was 30 percent higher year-on-year.

This was achieved despite the continued slump in metal prices and lower ore grades in Padcal. Core net income for the period amounted to PhP214 million.