North's Viridian posts 11% rise in profits

Northern Ireland Electricity's parent company today reported an increase in profits and a major increase in business in the Republic…

Northern Ireland Electricity's parent company today reported an increase in profits and a major increase in business in the Republic.

Viridian's turnover increased to £976.8 million from £835.4 million in 2005, and operating profit increased 11 per cent to £132.4 million from £119.1 million in 2005.

Energy supplied in the Republic by Viridian increased by 26 per cent, all-island competitive market electricity sales increased 36 per cent to £370.1 million, and business customers rose to 18,600 in the Republic.

Viridian was the largest independent supplier of electricity to the Republic through its Energia subsidiary.

During the year Energia also started to supply a number of large customers in the Republic with gas, generating revenues of £11 million.

PA

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