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.

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

PA