Benguet Corp. Q3 loss widens on higher operating costs - BusinessWorld Online

Benguet Corp. Q3 loss widens on higher operating costs - BusinessWorld Online

BENGUET CORP. reported a net loss of P68.3 million for the third quarter (Q3), widening from P11.1 million a year earlier, as rising operating costs offset gains in revenue. Total revenue from minerals rose 29.2% to P379.5 million from P293.7 million, supported by a 35.8% increase in average gold prices to $3,397.27 per ounce, the company said in a regulatory filing on Wednesday. However, cost and operating expenses climbed 63.4% to P520.1 milli…