Antinuclear

ERA: drastic drop in uranium miner’s profit

ERA slashes profit forecast, The Age, December 22, 2010 The uranium producer Energy Resources Of Australia disappointed investors by flagging lower than expected profits and fewer reserves at Ranger mine.ERA said it expected an after-tax profit of between $45 million and $55 million in 2010. It made $272.6 million in 2009. Analysts had expected a profit of about $84 million.It said lower production had forced it to buy uranium oxide to meet sales commitments. Prices were also below average. Shares closed down $1.22, or 9.3 per cent, at $11.95. ERA slashes profit forecast

December 22, 2010 - Posted by Christina Macpherson | business, Northern Territory, uranium