/SUPPLEMENTED/ Income of Kazakhmys PLC in the first half-year of 2006 has exceeded the predictions

/REUTERS, London, September 19, 06, the title, prepared by IRBIS/ - Kazakhstan copper monopolist informed on Tuesday that its income redoubled in the first half-year of 2006 against the background of record- breaking high prices for copper, and confirmed that it is expected the growth of production and cost of ready-made products by the results of the year. Income of the company within January-July of year 2006 grew by 90%, compared to the similar period of last year, to $2.28 bn., owing to growth of output prices by 88%. At that, volume of production decreased by 6%. The indicator EBITDA increased by 124% to $1.08 bn. Profit per one share grew to $1.32 from $0.59 in the first half-year of last year. The average forecast of analysts was $1.24. "We are expecting that prices for copper will be beyond long-term historical average level by the end of this year and year 2007," it is said in the message. "For the entire year we are previously expecting moderate growth of productions volumes of cathodic copper, compared to year 2005." The company informed also that its general management Yong Ku Cha will quit his post at the end of the current year under private causes, although he will hold "key" stake of the company. Currently he owns 15.6%. Shares of Kazakhmys got cheaper more than four percent, caused by the alarm that Cha will sell his stake in the company. Market capitalization of Kazakhmys grew more than two times after conducting the listing in London in October of last year owing to growth of prices for copper and reached $11.1 bn. on Monday. [2006-09-19]