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SEMIRARA Mining and Power Corp. on Monday said that net income in the first half shrank 26 percent to P19.21 billion, from P25.8 billion in the same period last year, as coal prices normalized and because of a high base effect.
Lower coal prices led to a 26-percent drop in Semirara Mining and Power Corp.’s (SMPC) net income in the first half. The company’s profit during the period fell to P19.2 billion from P25.8 billion posted in the same period a year ago. From January to June, average Newcastle price plunged…