Wednesday 26 October 2016

ESB operating profit rises by €10m to €337m

Published 25/09/2015 | 08:06

Pat O' Doherty, Chief Executive, ESB
Pat O' Doherty, Chief Executive, ESB

Operating profit at semi-state ESB hit €337m in the six months to the end of June, compared to the €327m recorded in the same period last year.

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The €10m increase excluded exceptional items.

Revenue increased from €1.65bn to €1.72bn while earnings before deductions rose from €665m to €690m.

Pre-tax profits at the group jumped from €113m to €236m while profits after tax almost doubled to €201m from €108m.

The ESB made a dividend payment of €224m, a €12m decrease on the dividend paid out in the first half of 2014.

The company says that it has achieved cost savings of more than €270m since 2010.

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