Reuters reported that Aurubis AG, Europe's largest copper producer, raised its full year profit outlook slightly while reporting better than expected 9 month operating profit thanks to robust global demand.

Operating earnings adjusted for inventory valuations rose 27% to EUR 304 million in the 9 months through June, easily beating a consensus forecast of 278 million in a Reuters poll of analysts. They rose 7% in its Q3 to 111 million. It now saw full year results slightly above those of last year rather than steady.

Mr Peter Willbrandt CEO of Aurubis said that he expected results to remain stable this year from operating EBIT of EUR 327 million last year as a recovery of copper demand in China offsets the impact of the euro zone debt crisis.

Source - Reuters

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