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Kety aluminum hikes 2013 net profit guidance to PLN117 mln

TAG'S: KETY, Metals Industry

 

Listed metals firm Kety will end 2013 with a group net profit of PLN 117 mln, 12% above the initial management forecast even as revenues suffer, the firm said of new guidance in a market filing.

The guidance revision comes on to-date 2013 budget realization and the forecast stable demand for group company products, management said.

EBITDA of PLN 214.0 mln is 4% below the prior estimate. Revenues of PLN 1.55 bln is 8% below the prior estimate, management also noted.

Fresh guidance comes as management estimated Q3 group net profits at PLN 43-44 mln, according to a early estimates released in a separate filing. Group revenues likely totaled PLN 445 to 450 mln, largely flat against the prior year despite a decline in aluminum prices of around 6%, management said.

2013-09-29



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