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Turf's up as Bord na Móna sees profits rise

The company has reported a growth in earnings for the fifth year in a row.

Image: Mark Stedman/Photocall Ireland

BORD NA MÓNA saw its profits rise by 23 per cent in  the past year, new figures show.

Business & Leadership reports that the company recorded profits after tax of €12.9 million in the year to March 2011.

This is an increase in 23 per cent from last year’s figure of €10.5m.

Bord na Móna’s turnover for the year was €382.1m, with earnings before tax rising by 12.6 per cent to €72.7 m.

This is the fifth year that the company has reported a growth in earnings.

However, RTÉ reports that the company has cut €1.8 million off the dividend it pays to the State, going from €5.2 m to 3.4 m.

Meanwhile, the site has launched a new website, www.bordnamona.ie.

For more information read this story in Business & Leadership>

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