Bord na Móna returns to profit for first time in four years

The semi-state company reports pre-tax profits of €27.8 million after as it makes transition from peat harvesting to green energy

Bord na Móna has ended peat harvesting and will instead focus on renewable energy projects such as this wind farm on the Bog of Allen. Picture:

Bord na Móna, the semi-state company, returned to profit in 2020 after three consecutive years of losses.

On Wednesday, it announced pre-tax profits of €27.8 million following four years of significant change for the company, including the closure of the two peat-fired power plants in the Midlands, the ending of peat harvesting after almost 100 years and a major restructuring programme.

Having made operational losses for the previous three years due to exceptional costs, Bord ...