STOCKHOLM--Swedish miner and base metal producer Boliden
(BOL.SK) reported a higher profit for the first quarter on Tuesday
as the effects of a stronger U.S dollar and better terms in its
smelter business outweighed lower metal prices.
The company said net profit for the three months ended March 31
was 896 million ($106.8 million) Swedish kronor, up from SEK153
million during the corresponding period a year earlier.
"Consistent investments in mines and smelters producing zinc,
copper and precious metals give Boliden a good position in today's
challenging market conditions," said Lennart Evrell, chief
executive.
Boliden said investment will total just over SEK4 billion this
year and slightly below SEK4 billion in 2016, after several years
of major expansion projects.
Sales in the quarter rose to SEK10.41 billion from SEK8.55
billion in the corresponding period last year, while operating
income was SEK1.21 billion, up from SEK265 million.
Shares closed at SEK185.60 on Monday.
Write to Christina Zander at christina.zander@wsj.com
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