Irish renewable energy group records more than €200m losses

15 Nov 2010

Dublin-based renewable energy group NTR has announced after tax losses of more than €210m in its recently released financial results.

The group recorded earnings of €30.8m compared to €22.4m for the same period last year.

NTR also reported net proceeds of €125m as a result of the sale of Greenstar UK and certain roads assets since the year end.

Total assets for the company amounted to €1.38bn at the end of March 2010, as well as its sustainable waste management and solar businesses reporting a €147.9m loss.

Growth opportunities

Chief executive of NTR plc, Jim Barry, said; “This was a year that required firm resolve and focus. Our investments remain in sectors that have firm medium-term structural growth opportunities and we have the patience and financial strength to take advantage of their upturn.”

For a detailed report on the company’s financial results, click here.