22nd Jul 2022 12:22
Yellow Cake PLC - Jersey-based investor in uranium - Net asset value per share stands at GBP4.42 at March 31 year end, up 86% from GBP2.38 per share the year before. Net asset value as at March 31 more than doubles to USD1.07 billion from USD421.4 million. Pretax profit multiplies to USD417.3 million from USD29.9 million the year before. Attributes growth to the continued rise in the price of uranium and strong demand for uranium investments. Declares no dividends for the year, unchanged from the prior year.
Looking ahead, Yellow Cake says it sees strong uranium demand from nuclear utilities, as well as a higher incentive price for new supply of uranium, as a result of inflation and supply chain disruptions.
"These factors should result in continued strong demand for uranium and support a continued increase in uranium prices. Yellow Cake is well positioned to make the most of opportunities to realise value for investors both through increasing its holding of U3O8 and through share buybacks when the share is trading materially below net asset value," Chief Executive Andre Liebenberg says.
Current stock price: 347.20 pence
12-month change: up 32%
By Abby Amoakuh; [email protected]
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