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MANILA, Philippines – Mining company Benguet Corp. saw its net income soar by over 119 percent in the first quarter, driven by sustained increases in metal prices and higher sales.
In its quarterly report, Benguet said its net income had more than doubled to P555 million in the three months ending March from P253.3 million in the same period a year ago.
READ: Now debt-free, Benguet Corp. ready for expansion beyond mining
Revenues amounted to P1.7 billion during the quarter, reflecting a 69 percent increase.
