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KGHM doubles profit

23rd August 2010
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State-controlled copper miner KGHM nearly doubled its net profit in Q2 on rising copper prices and increased sales volumes. KGHM recorded a net profit of zł.1.5 billion, up from the zł.844.8 million it earned a year earlier. Copper prices jumped 50 percent in Q2, encouraging KGHM to sell some 142,000 metric tons of the metal, a 14% increase on last year. In total, sales increased 44% to zł.3.93 billion, earning the company a healthy profit.


From Warsaw Business Journal


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