High $Aust. hurst ERA
NZPA- AAP Sydney The strength of the Australian dollar has taken its toll on the profit performance of the country’s biggest uranium miner, Energy Resources of Australia (ERA). ERA blamed the high Australian currency against the U.S. dollar and lower sales for a 28.9 per cent drop in net profits for the half year ended December 31. ERA, which is 65.1 per cent owned by North Broken Hill Peko, said in a statement interim profits were down to sAust22.o7 million (SNZ3O.7BM) from 531.05 M (SNZ43.3IM) previously on a 34 per cent slump in turnover to 584.48 M (SNZII7.B2M). However, directors have declared a steady fully franked interim dividend of Austsc a share and said they are reviewing the possibility of paying a special dividend from its remaining franking account.
ERA’S sales of uranium oxide fell by 23.6 per cent to 1298 tonnes
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Press, 18 February 1989, Page 28
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146High $Aust. hurst ERA Press, 18 February 1989, Page 28
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