Nickel Asia profit drops 26% in Q1

MANILA, Philippines – Nickel Asia Corp. (NAC) said on Tuesday its net income dropped by 26 percent to P371.77 million in the three months due to lower sales amid higher metal prices. The company said its first-quarter earnings included a one-time gain of P800.49 million from selling its 15.625-percent stake in Coral Bay Nickel Corp. (CBNC).