Firm copper and silver prices help KGHM net Q1 profit

"Such a good result was achieved thanks to a number of aspects - good prices of copper and silver, as well as ...the lowering of costs and improved effectiveness," said the company's deputy president, Andrzej Szczepek. This year, the company's management board expects to achieve a net profit of zł.652 million on revenues of zł.5.15 billion. This is based on an average price of copper at $2,000 per ton throughout the year, even though the price has been $800 higher than this figure for the last three months. Despite such positive results, KGHM's shares fell 0.7% in value yesterday to zł.27.70, reaching their lowest level since the start of the year. (Puls Biznesu, p. 8; Parkiet, p. 5) A.K.