Marcventures income rises

MANILA, Philippines - Marcventures Holdings Inc., the parent company of nickel mining subsidiary, Marcventures Mining and Development Corp., reported a 788-percent improvement in its net income to P1.017 billion in 2013 from P114.5 million in 2012. Even as nickel prices declined, the company’s impressive performance was bolstered by a 260-percent increase in ore shipment volume to a record 2.8 million wet metric tons from 630,000 wet metric tons the previous year. As a result fully diluted consolidated earnings per share in 2013 went up by 9X to P0.59 per share from P0.062 per share in 2012.

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