Era profits as uranium price rises
Energy Resources of Australia (ERA) has reported a strong rise in first half profit, after the price of uranium rose. The world's fourth largest uranium producer said output for the six months ended June was lower than for the same period last year. But net profit still grew to $38.95 million, from $5.67 million. Earnings before interest and tax (EBIT) totalled $54.4 million, up from $12.4 million at the end of the calendar 2007 first half. Drummed uranium oxide production fell 6% to 2,357 tonnes while uranium oxide sold fell 21% to 1,746 tonnes.