LISTED nickel producer Global Ferronickel Holdings Inc. (FNI), said on Wednesday it is optimistic that it will recover this year after its net income plunged 96.6 percent to P37.5 million in 2016 from P1.11 billion in 2015.
FNI attributed the drop in revenues and profit to sluggish ore prices and poor weather conditions. It said gross revenues fell to P1.46 billion in 2016 from the P3.02 billion recorded in 2015.
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