(Puls Biznesu) – Growing copper prices boost the income of the Polish copper producer.
KGHM may verify its budget within days and raise its financial forecasts, which today provide for PLN 1.84 billion (EUR 474.7m) of net income.
“Analyses are going on”, Krzysztof Skora, KGHM CEO said.
One of the trade unions demands KGHM to pay out PLN 90m as bonus till the middle of May. Leszek Hajdacki, the member of the supervisory board representing employees, said that in the first two months of the year, the company earned PLN 554m.
“I expect that the forecast may rise to PLN 2.2-2.3 billion. In fall, it may be raised again. In my opinion, KGHM may earn PLN 3.3 billion this year providing that the average copper price amounts to USD , Krzysztof Kaczmarczyk from DB Securities said.
The supervisory board has approved of the proposal of the management to spend PLN 1.1 billion from last year’s income for dividend. The rest, or PLN 1 billion will be spent for investment.
(PLN 1 = EUR 0.258)