Energy Resources Of Australia 1H Profit Down 82% To A$22.7M

29th Jul 2010 00:03

SYDNEY (Dow Jones)--Energy Resources of Australia Ltd. (ERA.AU) said Friday that first half profit plunged 82% on lower sales volumes and uranium prices. Net profit for the six months to June 30 fell to A$22.7 million, from A$127.6 million in the previous corresponding period, missing UBS and J.P. Morgan forecasts of A$28 million and A$39.6 million, respectively. Revenue slid 37% to A$217.7 million from A$347.0 million. ERA, which is 68%-owned by Rio Tinto Ltd. (RIO.AU), declared an interim dividend of 8 cents a share. It reiterated its recently downgraded full year production guidance of 4,300-4,700 metric tons of uranium ore. -By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; [email protected] Order free Annual Report for Rio Tinto PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0007188757 or call +44 (0)208 391 6028 (END) Dow Jones Newswires July 29, 2010 19:03 ET (23:03 GMT)