ESB Group reports €390m profit in first half of year

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ESB Group has reported a significant rise in profits for the first half of the year against the backdrop of surging energy prices on international markets and soaring bills for consumers.

According to the group's half year results, profit after tax and exceptional items came in at €390 million.Revenue of almost €3.7 billion was up from almost €2.2 billion last year.

The fall in that metric was accounted for by changes to the regulated network tariff - the fee that networks charge for using their infrastructure - losses in its customer solutions business and foreign exchange movements. We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences

He acknowledged the concern that people were experiencing with rising energy bills, but he said that it was driven by international wholesale prices, particularly on gas markets.

 

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