Copper Producer Aurubis Optimistic About Demand Outlook

European copper producer Aurubis reported an increase in annual profits and expressed optimism about demand expectations, proposing a higher dividend and raising its shares by 14%. For the fiscal year ending in September 2023/24, the company's pretax operating profit rose by 19% to €413 million ($434.72 million). The company had announced preliminary results in September. Aurubis also confirmed its forecast for lower operating earnings ranging from €300 million to €400 million for the fiscal year 2024/25. The company stated it would offer a dividend of €1.50 per share, exceeding analyst expectations. Its shares increased by approximately 14%.