The KGHM Group achieved improved profitability in terms of both operating and net profit in the 3rd quarter of 2016 (versus the comparable period of 2015). Profitability increased despite a slight decrease in sales revenue, mainly thanks to lowering operating costs.
„The increase in profitability despite the tough macroeconomic conditions reinforces the need to maintain strict cost discipline. Our key strategic development projects in Poland are being continued in accordance with our assumptions: ramp-up of the new flash furnace at the Głogów 1 smelter/refinery is proceeding smoothly, which also applies to the Deep Głogów ore access program. At the same time we are approaching the final stage of KGHM’s strategy revision, which will allow us to make business decisions regarding the international assets based on conclusions derived from their audit, forecasted macroeconomic conditions and the projected financial performance of the KGHM Group,” explained Radosław Domagalski-Łabędzki, CEO of KGHM Polska Miedź S.A.
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