WARSAW (Thomson Financial) - Polish state-controlled copper producer KGHM
beat expectations with a six percent rise in first-quarter net profit thanks to
soaring metal prices and the lack of unprofitable hedging contracts, the company
said on Friday.
Unconsolidated net profit, which excludes earnings from KGHM's phone units,
rose to 982 million zlotys in the quarter ended March 31 from a revised 927
million a year earlier and compared to 955 million-zloty average estimate of
eight analysts polled by PAP newswire.
KGHM, the copper miner with largest European output, will hold a news
conference at 11.00 a.m. local time.
piotr.skolimowski@thomsonreuters.com +48 22 447 24 36
ps1/jlw
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