Berkeley Energia interim loss widens due to foreign exchange movements

(Alliance News) - Berkeley Energia Ltd on Wednesday reported a widened loss due to foreign exchange movements, while interest income surged.

Berkeley Energia is a clean energy company, focused on bringing the Salamanca project in Western Spain to production.

The company said its pretax loss widened to USD3.5 million in the six months to December 31, from USD849,000 a year prior.

Notably, it reported a loss of USD2.3 million on foreign exchange movements, compared to a gain of USD1.2 million a year ago.

Interest income jumped to USD1.7 million from USD268,000. Exploration and evaluation costs increased 27% to USD1.9 million from USD1.5 million.

Looking ahead, the company said: "The outlook for nuclear power and the uranium market continued to strengthen during the period, with a number of important recent developments."

It cited the European Parliament adopting its official position on the proposed net-zero industry act aimed to support Europe's manufacturing output in technologies needed for decarbonisation.

Berkeley Energia shares fell 1.2% to 14.08 pence each on Wednesday afternoon in London.

By Tom Budszus, Alliance News slot editor

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