Areva net profit soars despite new EPR charge

AP reports Areva  says its net profit soared despite new EPR charge.

Areva, which also mines uranium and produces nuclear fuel in addition to designing and building reactors and recycling nuclear waste, also booked hundreds of millions of euros in new charges for delays in building the first of its new EPR reactors for a power utility in Finland, which is years overdue and euro2.6 billion in the red.

These new provisions and others, including a euro300 million writedown of of the value of some mining assets, caused Areva’s operating loss for the period to widen to euro485 million from euro170 million a year earlier, while revenue rose 2.7 percent to euro44.1 billion.

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