KGHM announces exceptionally rosy Q1

Before the announcement market analysts were not counting on net profit exceeding zl.725 million. "The first quarter was in accordance with production as well as financial plans," announced KGHM president, Krzysztof Skóra. "The positive elements included the high price of copper, above 5,900 USD per ton on average, and a zl.200 million dividend from Polkomtel." Revenue from sales also amounted to zl.2.64 billion, zl.183.38 million higher than those generated in Q1 of 2006. The financial results of the giant are being closely watched by the employees who were promised a bonus from this year's profits. So far it looks like the plan to record a net profit of zl.3 billion is on track. (Puls Biznesu, p. 9) A.K.