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Profits plunge for Bord na Mona

STATE energy company Bord na Mona revealed that increased interest charges from extra borrowing dampened its profits this year.

Operating profits in the group's financial year levelled off at €23m, however profit before tax fell by around 30pc to €13m from €19.5m.

The company's interest bill increased because it borrowed $200m in the US last year through a bond sale to a number of pension funds.

On Thursday, the company will present a €500m plan to Dublin City Council to bring excess water from the Shannon to the midlands and east.