ESB’s half year profits surge 80% to a record €676m

ESB, the semi-state energy company, saw its profits and sales surge in the first half of the year thanks to continued high electricity costs, increased network charges and foreign exchange tailwinds.

On Tuesday, the company announced it generated operating profits of €676 million for the first six months of 2023, which is up almost 90 per cent on the same period last year. Profit margins in the business increased to almost 14 per cent.

Earnings ...