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The Warsaw Voice » Business » August 4, 2005
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KGHMs earnings report unlikely to affect share price
August 4, 2005   
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Poland's copper giant KGHM will likely post strong Q2 results, with net profits up over 5% to some PLN 551 mln as copper prices are high, but costs run uncontrolled, analysts tell PAP ahead of the August 4 official release of earnings.

Strong earnings are not likely to drive KGHM shares, which adjust to the bullish copper market on the fly, analysts note.

The PAP analyst survey established consensus expectations for a PLN 551.8 mln net profit with estimates ranging from PLN 494 mln to PLN 583 mln.

Revenues are seen at PLN 1.844 bln, up over 10% from Q1, with operating profits at PLN 568.4 mln.

KGHM's stand-alone results will be published after Thursday's session

KGHM shares declined 2.3% to PLN 38.60 at Wednesday's session close.
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