Yellow Cake reports surge in full-year profits

(Sharecast News) – Uranium investor and long-term holder Yellow Cake reported a profit after tax of $417.3m for the year ended 31 March in its annual results on Friday, rocketing from $29.9m year-on-year.

The AIM-traded firm reported a "continued improvement" in the market for triuranium octoxide, with the spot price increasing 89% from $30.65 per pound on 31 March 2021, to $57.90 at the end of the 2022 financial year.

It reported a 203% increase in the value of its holding of triuranium octoxide during the financial year to $916.7m as at 31 March, as a result of the appreciation in the uranium price and a net increase in the volume of uranium held from 9.86 million pounds of triuranium octoxide to 15.83 million pounds.

The company raised $236.6m (£171.7m) during the financial year through share placings in June and October, after raising $138.5m in March last year.It said it applied the […]

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