Kazatomprom expects revenue to grow this year
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.
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.
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.
Comments
The login details you entered is incorrect. Please try and re-enter your username and password. If you continue having problems, please contact us at subscriptions@creamermedia.co.za for assistance.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
