KGHM doubles quarterly profit

The fourth-quarter net profit of Poland’s KGHM almost doubled to 1.324bn zlotys (£283.3m), coming in above market expectations, as Europe’s number two copper producer benefited from surging metal prices. Analysts saw the state-controlled miner earning 1.22bn zlotys in the last three months of the year. The figure pegs KGHM’s full-year bottom line at 4.57bn zlotys, above the company’s own forecasts of 4.46bn zlotys.