Publicly traded firm, OceanaGold (Philippines) Inc., booked a 14.4 percent drop in its net income for the first half of 2025, owing to a decline in its gold production.
Its net profit of $22 million paled in comparison to $25.7 million net income in the first half of last year.
The company, in a disclosure to the Philippine Stock Exchange on Thursday, said its gold production for the period inched down by 8.7 percent to 45,100 ounces from 49,400 ounces in the first half of 2024.
Meanwhile, its copper production reached 7,100 tons, equivalent to a 22.4 percent improvement from the 5,800 tons for the similar period in 2024.
Its revenues for the first half of 2025 jumped to $175.5 million from the first half of 2024’s $160.9 million.
Joan Adaci-Cattilling, president, said OGP will capitalize on the current high prices of gold in the global market.
