KGHM’s profit grows in Q3

Copper and silver mining giant KGHM recorded a consolidated net profit of PLN 678 million in the third quarter of 2014, 30.9 percent higher than in Q3 2013. Analysts polled by the Polish Press Agency expected a net profit of PLN 658.1 million. The company’s operating profit stood at PLN 1.07 billion in Q3 and rose by 34.8 percent y/y. Analysts expected it to be PLN 931.3 million. KGHM’s revenue in the third quarter of 2014 amounted to PLN 5.19 billion. It was 5.1 percent lower than a year earlier and 1.5 percent higher than market consensus.