IRELAND: ESB profit after tax €390m; Three times more profit than last year

Ireland: According to the group's half-year results, profit after tax was €390 million. This is more than triple the profit of €128 million achieved in the same period last year.

ESB Group recorded a significant increase in profits in the first half of the year amid rising energy prices in the international market and soaring consumer bills.

As an ESB shareholder, the government is committed to reducing the company's profit margin by reducing energy costs for homes and businesses. Speaking in County Clare today, Michael Martin, speaking in County Clare today, said that as the government is the ESB's shareholder on behalf of the Irish people, the government has the ability to recover the money through dividends.

Given the level of profit in the wake of the energy crisis, he said, the government can expect higher profit margins than before the crisis. He said the huge dividend could be used to underpin efforts to reduce pressure on families and protect jobs.

In the case of ESBs, the government has some options, including through a windfall tax or taking a large dividend from the company. "We will use that money to reduce costs for families and businesses, which is what we intend to do," Deputy Prime Minister Leo Varadkar said.

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