Bord na Mona returns to profit

New figures from Bord na Mona show the State-backed utility returned to profitability last year, with all divisions within the group also generating revenue growth.

The group, whose focus is increasingly on the renewable energy sector, yesterday reported an after-tax profit of just over €9.2m for the 12 months to the end of March. This represented a turnaround from a loss of €16.3m the previous year.

Operating profit amounted to €23.5m, compared with a loss of €3.7m in the preceding year; and pre-tax profits topped €12.5m, after a €12.7m loss in the prior year. Group turnover grew by 11% to €426.1m; mainly boosted by fuel sales over the long period of winter weather.