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Company News

Polish copper miner KGHM reports 84 pct rise in third-quarter profit

WARSAW, Nov 14 (Reuters) - Polish KGHM, one of the world’s biggest copper producers, on Tuesday reported an 84 percent rise in its third-quarter consolidated net profit on the back of higher copper prices.

The state-run miner reported a consolidated net profit of 604 million zlotys ($167.36 million) compared with the 329 million zlotys a year ago and the 611 million zlotys expected by analysts.

At a stand-alone level, on which KGHM’s dividends are based and which reflects the company’s Polish operations, the miner booked a net profit of 540 million zlotys compared with 614 million zlotys a year earlier. ($1 = 3.6090 zlotys) (Reporting by Agnieszka Barteczko. Editing by Jane Merriman)

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