NEW! Investment Companies Centre

Cost pressures increasing at Kazakhmys

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Thursday 28 Aug 2008

LONDON (ShareCast) - Poor weather and changes in the timing of sales hit first half revenue and earnings at miner Kazakhmys.

Profit before tax slipped to $885.9m in the first six months of 2008 from $1,185.8m a year earlier, on revenues that increased to $2,837.8m from $2,789.3m.

Higher copper prices counterbalanced the lower level of sales volumes caused by poor weather conditions in the first half, but earnings were limited by increased cost pressures. In the company’s copper business, costs before by-products have risen by more than 20% during the past year, largely due to increase in labour costs, consumables used in production and rising fuel prices.

Copper production recovered after the interruptions caused by severe weather conditions in the first quarter, and the company has left its guidance for full year production unchanged.

The interim dividend has been increased from 13.6 cents to 14 cents.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).