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Company News

Poland's KGHM Q1 net profit falls 38 pct y/y, comes tad below forecasts

WARSAW, May 15 (Reuters) - Poland’s KGHM, one of the world’s biggest copper and silver producers, reported on Tuesday a 38-percent annual fall in its first quarter net profit due to lower production and sales.

The state-run KGHM said its net profit for the three months of the year stood at 439 million zlotys ($121.08 million)compared to 453 million expected by analysts and 710 million zlotys reported a year ago. ($1 = 3.6258 zlotys) (Reporting by Agnieszka Barteczko; Editing by Marcin Goclowski)

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