StockMarketWire.com - Uranium company Kazatomprom reported a rise in first-half adjusted profit as a 'significant' jump in sales volume boosted revenue.

For the first half-year ended 30 June 2021, adjusted EBITDA -- calculated as profit before tax, finance expense, net FX loss, depreciation and amortisation, impairment losses, one-off or unusual transactions -- rose 23% to KZT99.4 billion year-on-year as revenue increased 54% to KZT235.5 billion.

'The significant increase in sales volume in the first half of 2021 in comparison to the same period of 2020 [was] mainly related to the timing of customer requirements and the resulting differences in the timing of deliveries for the first halves of 2021 and 2020,' the company said.

'[A]fter the end of the second quarter, we announced that we are extending the 20% reduction of our production against subsoil use agreements for an additional year, through 2023,' it added. 'This means that for yet another year, global primary production is expected to be over 5,000 tU lower than was previously anticipated.'


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