Philex Earnings Fall to P300M

Pangilinan-led Philex Mining Corp. reported an eight-percent earnings drop in the first half, falling to a little over P300 million due to lower gold and copper output.

- By JASPER EMMANUEL ARCALAS

Philex, one of the country's oldest and largest gold producers, said its net income reached P301.4 million, about 8.5 percent lower than the P329.4 million recorded last year.

The company's revenue declined by five percent year-on-year to P3.76 billion from P3.97 billion.