Uranium miner Energy Resources of Australia Ltd.(ERA.AU) said Monday it expects to book a first-half net profit of up to A$130 million - more than three times the A$38.9 million it booked a year ago.

In a brief statement, the group, which is 68%-owned by Rio Tinto (RTP) said net earnings for the six months to June 30 are expected to come in at A$120 million-A$130 million. Earlier Monday, ERA said it expected earnings of at least A$120 million.

Last week, the Darwin-based group reported that it substantially boosted its second-quarter uranium oxide production from a year earlier owing to improved grades and milling rates.

ERA shares rallied on the guidance, closing up 5.4% at A$24.62 - albeit on thin turnover of 424,331 shares.

-By Andrew Harrison, Dow Jones Newswires; 61-3-9292-2095; andrew.harrison@dowjones.com (Lyndal McFarland contributed to this article)
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