4th March 2013
Wednesday, May 22nd, 2013
KGHM's Q4 profit lower than expected
Poland's copper and silver mining giant KGHM recorded a consolidated net profit of zł.825 million in Q4 of 2012. This was significantly lower than analysts' expectations, which had put the profit at zł.907 million.
The firm's operating profit and revenue outperformed forecasts however, amounting to to zł.1.24 billion and zł.6.938 billion, respectively. Analysts had expected operating profit of zł.1.202 billion and revenue of zł.6.17 billion.
On Friday, KGHM also announced that planned investment outlays on its Sierra Gorda mine in Chile would amount to $3.9 billion. In 2011, these expenditures were estimated at $2.9 billion.
From Warsaw Business Journal
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KGHM demands authorities return zł.100 million
Financial results: PZU profit up, PGE and KGHM's down, Agora with a loss
Financial results: PGNiG's profit up, Asseco's down, GTC with a loss
Metals prices sink, hurting KGHM and WSE
Part of KGHM's mine closed for three months
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