Pinergy cuts its losses but warns of energy costs’ impact

Irish energy firm saw losses drop from €4.6 million to €2.14 million thanks to a jump in revenues and growth of client base, but is braced for rising costs

22nd November, 2021
Pinergy cuts its losses but warns of energy costs’ impact
Enda Gunnell, chief executive, Pinergy: ‘Overall, we are satisfied with business performance in 2020.’ Picture: Shane O'Neill

Irish energy provider Pinergy cut its losses from €4.6 million to €2.14 million last year on the back of a 20 per cent jump in revenues but has warned of the significant impact rising energy costs will have on its 2021 earnings.

The company, which is majority-owned by Peter Coates, owner of online bookmaker Bet365, grew its turnover from €38.42 million to €45.6 million despite the impact of the Covid-19 pandemic on its business.

Despite the jump...

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