Reduced global prices and curtailed FOMLY (NICICO) revenues by 4200 IRR
Mining News Pro - A report on the performance of the National Copper Quarterly showed some cases, including increased production of wire and reduced production of copper cathodes.

In connection with FOMLY, the main product of this company is copper cathode. The company`s production has been on a par with a modest upward trend, although the production of the cathode has declined. The reason for the reduction of cathode production is due to the fact that part of the cathode is consumed in the production of wire. Therefore, we see that the production of wire has increased.

In terms of sales, the sales of cathode and wire were also higher, but given the fact that global copper prices decreased and the dollar exchange rate (4,200) decreased, the total sales were lower than the previous one for the company.

Differences in the margins of gross profit and operating profit are due to the untapped cost reduction. In fact, they deduct the unpaid cost accounting from the cost section, and add other costs in the other operating income. That is why the margin of gross profit decreased and the operating margin increased.

But the positive point of this contribution is that the company has reduced both the financial costs and the investment income (deposit profits) and, more importantly, for any reason, the company in the various sectors suffered a loss in currency during the period The first quarter of the year has not been identified. This was while the losses from currency depreciation in 1996 were about 312 billion USD.

The company seems to have settled its debts.

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