KGHM Posts Declines in Net Profit in H1 2016 on Soft Copper Prices

SHANGHAI, Aug. 18 (SMM) – Polish company KGHM Polska Miedz, the second largest copper producer in Europe, reported declines in its net profit in the first half of 2016, the company announced on August 17.

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The decline was mainly because slipping copper prices led to sharp fall in the company’s overseas asset revenues.

The company achieved zł 296 million or $ 77.65 million in net profit in January-June, falling 75% from zł 1.19 billion in the same period last year. 

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