Paladin Energy Ltd (ASX:PDN) has widened its first half net loss by 55 per cent to $29.5 million, from a loss of $19 million the same time a year earlier.
In the six months to 31 December 2010, the uranium miner posted a 14 per cent improvement in revenue to $114.7 million, on the back of increased sales volumes.
In the same period costs rose 34 per cent to $25 million as Paladin proceeded with the acquisition of NGM Resources Ltd (ASX:NGM), and the Aurora uranium assets coupled with higher costs associated with expanded operations.
Paladin has also downwardly revised its full year production forecast and now expects to produce between 6 million to 6.3 million pounds of uranium oxide in fiscal 2011.
In the year to 30 June 2010, Paladin Energy booked a net loss of $63.12 million.
PDN Price at posting:
$5.42 Sentiment: None Disclosure: Held
