Wellex Industries, Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 07:36 am
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Wellex Industries, Incorporated reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was PHP 6.84 million compared to PHP 4.87 million a year ago. Net income was PHP 0.359641 million compared to net loss of PHP 1.13 million a year ago. Basic earnings per share from continuing operations was PHP 0.0001 compared to basic loss per share from continuing operations of PHP 0.0003 a year ago.
For the nine months, sales was PHP 17.58 million compared to PHP 14.81 million a year ago. Net loss was PHP 4.21 million compared to PHP 7.1 million a year ago. Basic loss per share from continuing operations was PHP 0.0013 compared to PHP 0.0022 a year ago.
Wellex Industries Inc. is primarily engaged in the business of mining and exploration. The Company operates through a leasing activity segment on its idle properties as warehouses to third parties. The Company focuses on identifying mining properties with mineral deposits, principally nickel, chromite, gold, and copper. The Company has a presence in the Philippines. The Companyâs wholly owned subsidiary is Plastic City Industrial Corporation.