Russian nuclear fuel manufacturer Tvel has reported net profits of $722.3m (€669m) for 2023, an increase of about 18% from the $610m reported in 2022, the Interfax news agency said.

Interfax said recently published financial statements have shown that Tvel’s 2023 revenues were at $3.4bn, an increase of about $2.3bn over 2022.

Tvel, which is owned by Russian state nuclear corporation Rosatom, said it fulfilled in 2023 all contractual obligations to Russian and foreign customers.

According to Interfax, “important projects” included shipping of fuel for the Akkuyu and Rooppur nuclear power stations under construction in Turkey and Bangladesh, and the supply of fuel for the floating nuclear power plant Akademik Lomonosov in Chukotka in the Russian Far East.