ESB group boosts profits as restrictions ease

The timing of network tariff changes and positive foreign exchange movements also helped profits

The energy company also made capital investments worth €435m in the first half of 2021. File Picture: David Creedon

The ESB Group delivered an operating profit of €363m for the first six months of this year, a rise of €114m compared to the same period last year.

Publishing its financial results this morning the company said the profit rise was a result of the recovery of electricity demand and capital work programmes with the easing of Covid-19 restrictions, the timing of network tariff changes and positive foreign exchange movements. Profit after exceptional items, interest and tax was €128m.