Uranium miner Energy Resources of Australia Ltd
(ASX:ERA) has reported record net profit after tax and underlying earnings for the half year to June 30.
Net profit after tax came to $127.6 million for the six moths, compared to $38.9 million recorded for the same period in 2008, and compared with the company’s record full year underlying earnings in 2008 of $119 million.
Revenue rose to a record $347 million for the half year, compared to $167.4 million for the six months to June 2008.
The company says sales also increased for the period to 2,280 tonnes, up from 1,746 tonnes for the same period the year before.
Uranium oxide production for the June 2009 half rose 14 per cent to 2,695 tonnes, with a total 10 million tonnes of raw material mined in the six months, 14 per cent higher than the June 2008 half year.
Energy Resources of Australia says full year production is expected to be in line with normal levels, while total sales tonnes in 2009 are still expected to be slightly higher than in 2008, with sales volumes higher in the second half.
Energy Resources of Australia’s 2008 net profit was its best in five years.
