HAMBURG, May 11 (Reuters) - Aurubis AG ,
Europe's largest copper producer, on Thursday confirmed it had
raised its forecast of core profits in the current financial
year as a positive business environment with strong demand is
expected to continue.
Aurubis confirmed operating earnings before taxes (EBT) of
between 450 million and 550 million euros ($495.36 and $605.44
million) for the 2022/23 financial year, up from an earlier
forecast of 400 to 500 million euros.
Operating EBT in its second quarter to end March totalled
166 million euros, only slightly down from the high level of 168
million the previous year, Aurubis confirmed on Thursday.
The company said the increased forecast comes amid
expectations of continued high fees it can charge to process
copper concentrate (ore), firm price premiums for the copper it
produces and continued strong demand for copper wire rod with
high prices.
($1 = 0.9084 euros)
(Reporting by Michael Hogan, editing by Friederike Heine)
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