Energy Resources of Australia Ltd., supplier of more than a tenth of the world's mined uranium, said full-year profit jumped 74 percent as prices rose and the value of stockpiles gained.

Net income was A$76.1 million ($68.2 million), or 39.9 cents a share, in the 12 months ended Dec. 31, from A$43.6 million, or 22.9 cents, a year year, the Darwin-based company, known as ERA, said today in a statement to the Australian Stock Exchange. Sales climbed 14 percent to A$362.4 million.

Energy Resources, controlled by Rio Tinto Group, is investing A$57 million to expand its mine in the Northern Territory as global demand for uranium rises from power utilities. The company got an average price for its uranium oxide of $25.06 a pound last year, 36 percent higher than in 2006.

``ERA expects sales in 2008 to be similar to 2007, possibly accompanied by a modest replenishment of inventory,'' the company said. ``Looking forward the outlook for uranium demand appears positive.''

Energy Resources gained as much as A$1.01, or 5.4 percent, to A$19.84 on the exchange and traded at A$19.53 at 10:39 a.m. Sydney time. The stock has fallen 1.9 percent in the past six months.