Kęty hopes to claw back profit
The country's largest aluminum manufacturer says the profits should improve on a lacklustre first quarter. In May Kęty revealed its Q1 net profit had dropped year-on-year to zł.17.4 million from zł.23.7 million, but kept its forecast that full-year net profit would rise by 11 percent to zł.102 million.
"With sales slightly higher than in the first quarter, the management board expects ... consolidated net profit up more than 30 percent on the first three months of the year," Kęty said in a statement.
The company did not give precise sales figures, but it said exports had risen quarter-on-quarter and were helping to make up for Poland's slower-than-expected economic growth.
Kęty also said it expected consolidated operating profit to reach zł.26-27 million in the second quarter. The company is due to report official second-quarter figures in early August.
Kęty has invested heavily in recent years, modernising its plants to produce high-margin drawn and extruded products used in construction, as well as aluminum foil and packaging for the food industry. (Reuters)
"With sales slightly higher than in the first quarter, the management board expects ... consolidated net profit up more than 30 percent on the first three months of the year," Kęty said in a statement.
The company did not give precise sales figures, but it said exports had risen quarter-on-quarter and were helping to make up for Poland's slower-than-expected economic growth.
Kęty also said it expected consolidated operating profit to reach zł.26-27 million in the second quarter. The company is due to report official second-quarter figures in early August.
Kęty has invested heavily in recent years, modernising its plants to produce high-margin drawn and extruded products used in construction, as well as aluminum foil and packaging for the food industry. (Reuters)
