FNI posts 51.82% profit decline, plans P711.8-m capex - BusinessWorld Online

FNI posts 51.82% profit decline, plans P711.8-m capex - BusinessWorld Online

GLOBAL Ferronickel Holdings, Inc. (FNI) saw a 51.82% drop in its 2024 attributable net income to P743.9 million from P1.54 billion a year earlier, mainly due to lower revenues and higher costs. Revenue from contracts with customers fell 13.37% to P7.61 billion from P8.79 billion in 2023, the company said in a statement to the stock exchange on Wednesday. The company said it saw “lower nickel ore prices, partially offset by strong volumes.” “By m…