KGHM Increases 2011 Profit Forecast on Higher Copper Prices
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KGHM Polska Miedz SA, Poland’s sole copper and silver producer, increased its profit forecast for this year by 16 percent as it benefits from higher prices of the metals and increased output.
The state-controlled producer expects net income of 9.64 billion zloty ($3.2 billion) this year on sales of 18.9 billion zloty, the company said in a regulatory statement today.