KGHM with PLN 87 mln Q4 net profit

WSE-listed silver and copper giant KGHM recorded PLN 87 million net loss in Q4, compared to PLN 4.9 billion last year. The result was affected by PLN 310 million in impairments on its foreign assets. Revenues reached PLN 5.87 billion, down from PLN 6.01 billion in the previous year. In 2017, KGHM had PLN 1.56 billion net profit vs. PLN 4.37 billion loss in 2016, with revenues reaching PLN 20.3 billion, up from PLN 19.1 billion the year before. KGHM blamed lower Q4 revenues on the decrease in volume of copper sales, which was only partially offset by the higher prices of the commodity.