Kazatomprom’s Q3 profit surges on higher sales

Kazakhstan’s Kazatomprom, the world’s biggest uranium miner, reported a nearly sevenfold year-on-year increase in third-quarter profit on Friday as its physical sales volume doubled in the same period.

According to the company’s financial report, its quarterly profit stood at 138.9 billion tenge ($299 million), up from 20.8 billion tenge a year ago. Revenue tripled in the quarter to 285.8 billion tenge ($615 million).

The company said in an earlier operations report the surge in sales was largely due to the schedule of customer deliveries.

($1 = 464.6400 tenge)

(By Olzhas Auyezov; Editing by Mark Potter)