Uranium & Fuel

Kazatomprom / Uranium Miner Announces 50% Drop In Net Profit

By David Dalton
5 March 2020

State-owned company says market struggled in 2019
Uranium Miner Announces 50% Drop In Net Profit
Kazakh uranium miner Kazatomprom posted a 50% drop in net profit for 2019 on Thursday which it said was due to one-off items as it forecast flat revenue this year on the back of stable output.The company’s net profit was 213.7 billion tenge (€495m) last year, while revenue climbed 15% to 502.3 billion tenge on higher prices, Kazatomprom said in a statement. Operating profit nearly doubled to 151.9 billion tenge.Kazatomprom forecast its 2020 revenue at 490-510 billion tenge in line with previously announced plans to hold its uranium output unchanged.

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