R/€ = 16.03 Change: 0.04
R/$ = 14.38 Change: 0.02
Au 1273.47 $/oz Change: -2.03
Pt 804.08 $/oz Change: -8.64
 
 
R/€ = 16.03 Change: 0.04
R/$ = 14.38 Change: 0.02
Au 1273.47 $/oz Change: -2.03
Pt 804.08 $/oz Change: -8.64
 
 
BACK

Kazatomprom expects revenue to grow this year

6th March 2019 BY: Reuters

ALMATY – Kazakh uranium miner Kazatomprom expects further revenue growth this year on higher prices, it said on Wednesday after posting a 112% jump in 2018 adjusted net profit on higher sales volumes and prices.

London-listed Kazatomprom's net income adjusted for one-off transactions stood at 66.8-billion tenge (about $177-million), it said in a statement.

Advertisement

The world's biggest uranium miner said it expected 2019 consolidated revenue of 485-billion to 505-billion tenge, with higher prices offsetting lower physical sales.

For 2018, revenue rose 58% to 436.6-billion tenge while Kazatomprom's uranium sales grew 65% in physical terms, it said.

Advertisement

But this year, Kazatomprom plans to sell slightly less uranium in physical terms, its presentation showed - 13 500 t to 14 500 t, compared with 15 287 t in 2018.

Without one-off adjustments, Kazatomprom's 2018 profit surged 173T to 380.3-billion tenge last year, according to the statement.

The company would stick to the previously announced plans to make dividend payments of no less than $200-million for 2018 and 2019, Kazatomprom chief executive Galymzhan Pirmatov told reporters on Wednesday. 

EDITED BY: Reuters
EMAIL THIS ARTICLE SAVE THIS ARTICLE
Advertisement
 
 
Prev Next