Profit at Bord na Móna up by 114% to reach €50.3m

Bord na Móna is expecting the early contribution from pending wind farm projects to further boost its earnings this year, following a record profit performance in its latest financial year.

The State-backed renewable energy-focused utility’s 2013/14 annual report — published yesterday and covering the 12 months to the end of March — showed a 114% year-on-year jump in operating profits to €50.3m, a 50% annual rise in Ebitda to €91m and a jump from €9.22m to €33.5m in post-tax profits.

A marginal increase in revenue, to €426.8m was also seen.