Northern Ireland energy group Viridian has reported pre-tax profits of £54.9m for the six months to the end of September, up from £53.8m in the same period last year, when there was also a £17.7m exceptional gain. Group turnover was up 11% to £412m.
Profits at Northern Ireland Electricity rose from £40m to £40.7m. Profits at Viridian Power & Energy, which includes the Huntstown power plant in north Dublin and its Energia supply division, almost doubled to £16.3m as turnover climbed more than 20% to £121.2m.
This was helped by increased output from Huntstown and further opening of the electricity market north and south of the border. Earlier this year, Viridian announced plans for a second power plant at Huntstown.
Viridian warned, however, that the strong contribution from Viridian Power & Energy would not be repeated in the second half, as higher gas costs would hit margins in the Republic.
Viridian shares were unchanged at €9.28 in Dublin this evening.
