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13/11/2002
Pre-tax profit hike for Viridian Group
The Viridian Group has reported a £3.1 million increase in pre-tax half-year profits.
The figures, released on Tuesday, revealed that for the six months up to the end of September, the company posted a pre-tax profit hike of £29.8 million compared to £26.7 million for the same period last year.
While turnover increased from £305.3 million to £331.8 million, adjusted operating profit was down from £48.5 million to £47.6 million.
The company's share price also went up by 3p to 498p in early trading.
Viridian's figures follow the disposal of financial services subsidiary, Open + Direct and the sale earlier this month of its 50% stake in Nevada tele.com, its cross-border telecoms business, to its joint venture partner, Energis.
Viridian chief executive, Patrick Haren, said good progress had been made during the first half of the year and that the company's strategy remains, he said; "to maximise the efficiency of our core regulated assets, to develop our energy business in competitive markets across Ireland and to maximise the potential of our unregulated businesses outside the energy sector".
(MB)
The figures, released on Tuesday, revealed that for the six months up to the end of September, the company posted a pre-tax profit hike of £29.8 million compared to £26.7 million for the same period last year.
While turnover increased from £305.3 million to £331.8 million, adjusted operating profit was down from £48.5 million to £47.6 million.
The company's share price also went up by 3p to 498p in early trading.
Viridian's figures follow the disposal of financial services subsidiary, Open + Direct and the sale earlier this month of its 50% stake in Nevada tele.com, its cross-border telecoms business, to its joint venture partner, Energis.
Viridian chief executive, Patrick Haren, said good progress had been made during the first half of the year and that the company's strategy remains, he said; "to maximise the efficiency of our core regulated assets, to develop our energy business in competitive markets across Ireland and to maximise the potential of our unregulated businesses outside the energy sector".
(MB)
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