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Viridian annual earnings 24% ahead

Huntstown - Second station on track
Huntstown - Second station on track

Northern Ireland energy group Viridian has reported pre-tax profits of £129.7m from its continuing businesses in the year to the end of March, up from £72.3m in the previous year.

Underlying operating profits were up 11% to £132.4m, while earnings per share grew by 24% to 68.2p. Total sales rose from £835m to £977m.

The group made an exceptional profit of £108.9m from the sale of its Sx3 business, while it also returned £97.9m to shareholders.

Profits at its Northern Ireland Electricity increased, while Viridian said its Huntstown power station in north Dublin was performing well. Its second Huntstown station is due to start operating in Autumn 2007.

Also in the Republic, its Energia division increased customer numbers from 11,500 to 18,600 during the year. These were mainly small businesses. Viridian said increased sales had offset pressure on margins, caused mainly by high gas prices.