ESB posts record profits of €267m despite rising fuel and staff costs

THE ESB has posted record after-tax profits of €267 million despite rising fuel and staff costs.

Profits were 6.6% higher than in 2003 and turnover for the year was up by €147 million at €2.48 billion, according to the ESB's annual report for 2004, which was officially published yesterday.

The bulk of profits were generated by the ESB's networks division, contributing €254 million to pre-tax profits of €314 million.