Bord na Móna ‘confident about its future’ as group revenue up 25%

Bord na Móna has reported a better-than-expected performance for the first quarter of its current financial year, with group revenue up by 25% on a year-on-year basis and ahead of budgetary targets.

The state-backed utility business — whose growing focus is on the renewable energy sphere — yesterday reported a challenging set of full year figures for the 12 months to the end of March, but said the first three months of its current year — the period to the end of June — represented “a very strong start”.

The last year saw group revenue marginally increase by 0.5% to €383.8m; nearly €2m more than the previous 12 months; but profits took a hit due to impairment charges.