Aurubis Expects Higher Profit This Year As Revenues Jump

Europe's largest copper producer Aurubis AG (NDA.XE) Wednesday said earnings in the current fiscal year will be clearly above the previous year after higher copper and metals prices helped it swing to a net profit for the first nine months of the year.

The company said net profit rose to EUR151 million from a loss of EUR9 million in the nine months to end June as sales increased to about EUR7 billion from EUR4.7 billion.

Aurubis expects copper demand to remain stable or increase slowly in the mid-term.

Shares of Aurubis, formerly Norddeutsche Affinerie, closed Tuesday at EUR36. So far this year, the shares have gained nearly 17% of their value, outperforming the MDAX which has gained about 11%.

-By Allison Connolly, Frankfurt Bureau; +49 69 29725513, allison.connolly@dowjones.com

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