March 1, 2013 / 6:28 AM / in 5 years

KGHM posts Q4 net below expectations on mining tax, no one-offs

WARSAW, March 1 (Reuters) - Europe’s No.2 copper producer KGHM, reported lower than expected fourth-quarter earnings, hit by a new mining tax and compared to a one-off boosted year-ago period, the company said on Friday.

The state-controlled miner said its stand-alone net profit stood at 753 million zlotys ($237 million) compared to 826 million seen in a Reuters poll.

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