War in Ukraine and a resurgence in nuclear power schemes have spurred sales and profits at Urenco, a company that enriches uranium and is part-owned by the British government.
Margins rose at Urenco in the first six months of the year, boosted by western customers shunning Russian suppliers. The company processes uranium mostly to generate power.
The trade in enriched uranium is not subject to sanctions, but western power companies have declined to sign new contracts with Russia since it invaded Ukraine.
Sales in the first six months were £605 million, up nearly 14 per cent on a year earlier. Profits before interest, tax and other charges were £257 million, up by 6.6 per cent. Net profits were sharply down at £28 million bedcause of
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