July 20, 2018 / 6:34 AM / a month ago

Boliden Q2 adjusted operating profit lags consensus

STOCKHOLM, July 20 (Reuters) - Swedish mining and smelting company Boliden’s second-quarter adjusted operating profit missed expectations, as costs rose and production decreased due to lower grades across its mines.

Operating profit, excluding revaluation of process inventory, grew to 2.33 billion Swedish crowns ($261.72 million) from 2.20 billion a year ago, but missed the 2.44 billion expected by analysts in a Reuters poll.

Boliden said it had seen costs increase largely due to higher prices for energy and consumables, as well as salary increases. ($1 = 8.9025 Swedish crowns) (Reporting by Esha Vaish in Stockholm; Editing by Jacob Gronholt-Pedersen)

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