Kopex 2017 net result turns to profit of PLN 67.5 mln

Kopex reported 2017 net profit from continuing operations of PLN 67.5 million compared to the loss of PLN 785.5 million a year ago. Consolidated revenue fell to PLN 749.4 million from PLN 777.2 million in 2016, the company reported. “The drop in revenues amounted to PLN 27,758 i.e . by 3.6 percent. At the same time, there was a significant reduction in the cost of products, goods, and materials sold (by 22.1 percent), as a result of restructuring in the capital group,” Kopex specified. Operating profit amounted to PLN 91.6 million versus the loss of PLN 632.2 million a year ago. Kopex Group offers machinery, equipment, and services for mining companies.