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THE WET SUMMER last year didn’t just drag down our spirits, it dampened Bord Na Móna’s profit margin as well with the company recording ‘exceptional costs’ of over €23 million due to the poor peat harvest.
The company still managed to reach a profit for the financial year of €9.2 million as compared to a loss of €16 million in the previous year.
Bord na Móna said it faced “exceptional operating challenges” in its feedstock business as a result of a 37 per cent milled peat harvest during the 2012 summer, which was the wettest recorded in the company’s history.
Turnover was up 11 per cent to €426.1 million, reflecting the prolonged cold winter weather and the positive impact this had on the sales of fuel.
The group had a strong operating cashflow of €108.5 million – up from €42.3 million the previous year. This reflected the fact that significant amounts of cash were released as milled peat stocks were heavily depleted due to the poor harvest in 2012. In addition, stocks of solid fuels products, including peat briquettes and coa,l reduced significantly due to higher than normal winter sales as a result of prolonged cold weather.
Commenting on the figures today, the company’s CEO, Gabriel D’Arcy said he was pleased to note that despite the challenged in the wider economy and individual sectors, Bord na Móna business still reported growth in turnover.
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FOR PEAT SAKE!
Roll on the eco warriors complaining about the erosion of our natural resources etc.
Is that not what eco warriors do though?
I say burn the lot. Then when there’s nothing left, out kids can weep into the ashes!
Loadsamoney!
I suppose looking ahead and seeing that massive swathes of habitat will disappear and not seeing that as a good thing is the alternative?
Fairly crap returns for a company with 77,000 hectares
I thought it was good for a company that has a very small time frame every year to harvest.
It has been to asked, what does a dry summer yield then?
Er, lots of smiles? :)
Er that don’t answer it for me. :-)
Pity that they burn all that peat in the power stations. Something not right about that
Did the forget about the peat, when they were chasing the Gov to become board na Water
I’d say the board had a good aul moan. ;-/
Well at least they’re scooping out the middle of Ireland and flogging it to the UK for their gardens and all that will be left is a great big brown swimming pool for further Irish heatwaves and bog snorkeling. They should have to subsidise compulsory swimming lessons on the national curriculum in exchange for the turf.
have your say