SSE Airtricity has recorded an exceptional charge of £6m (€6.7m) as a provision against bad debts arising from the coronavirus in Ireland. Nonetheless, it still recorded a profit of £42.8m (€48m) in respect of its operations across the island of Ireland in the 12 months to 31 March, up on the £38.6m (€43m) reported the prior year. The company, which supports 3,740 jobs here, said it continues to progress its Arklow Bank offshore wind project, which is “well placed” to help Ireland achieve its targets in the Climate Action Plan of 1GW of offshore wind by 2025 and 3.5GW by 2030. SSE said it retains “a strong market position” as Ireland's largest supplier of 100pc green energy, supplying over 700,000 customers across the island of Ireland with a 24pc market share. Its adjusted profit before tax rose to £1.02bn for the 12 months ended March 31, beating analysts' estimates of £959.3m.

Source: Irish Independent June 17, 2020 07:41 UTC