Nickel Industries (ASX:NIC) eyes better result in 2HFY24 as dry season begins

Tue 20 Aug 24, 07:14 AM | Team Kalkine

Image source: Shutterstock

Highlights

Nickel Industries is an ASX-listed nickel ore mining and nickel pig iron production organisation

In FY23, the company’s revenue increased by almost 55% to USD 1,880 million

PT Danusa Tambang Nusantara has the maximum stake in the firm with a shareholding of nearly 20%

Nickel Industries Ltd (ASX:NIC) is a nickel ore mining and nickel pig iron production organization. With operations in Indonesia and Singapore, the company has interest in the Hengjaya Mine, Ranger Nickel project and in the Angel Nickel project.

In the financial year 2023 (FY23), revenue of NIC surged by 54.48% YoY to USD 1,880 million, underpinned by increased sales in RKEF projects, Nickel ore mining and HPAL Projects in FY23. During the reported period, gross profit increased by almost 15% YoY to USD 338.03 million.

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