Energis Ireland, the telecoms firm formed after its take-over of Nevada tele.com last year, made revenues of almost £40 million sterling (€58 million )in the year to the end of March 2003, the firm said yesterday.

The company, which is a subsidiary of British firm Energis, also achieved cash break-even in the past few months, said Energis Ireland's chief executive, Mr Eamonn O'Hare, who also acts as chief financial officer of Energis.

In an interview with The Irish Times, Mr O'Hare said Energis's Irish business was looking good and had got to cash break-even point.

He said the firm was looking at opportunities around the Irish Financial Services Centre in Dublin and in the call centre services market.

"We have a lot of product capacity in this area. The challenge remains that, in terms of infrastructure in the Republic, we are relatively light," he said.

Mr O'Hare said the Energis Group was looking at the possibility of investing in new infrastructure in the State. This could be done in partnership with other telecoms firms. But the scale of Energis, which is 20 times the size of Nevada, should help it to grow, he added.

Customers of Energis in the North and the Republic include Tesco and UTV, which uses the Energis network for its internet service provider in Ireland.

Energis Ireland will report a pre-tax loss for the year to the end of March 2003, reflecting restructuring costs.