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Bord Na Móna Reports Best Profits In 90 Year History

Wednesday, 20 September 2023 13:08

It comes following controversy over a benefit-in-kind tax bill paid for the CEO.

Bord na Móna have reported their highest operating profit in the company's history, at €95.2m. 

This marks an increase from the financial year 2022, where their profits amounted to just under €79m.

It comes as it was revealed that the semi state body paid a benefit-in-kind tax bill for the €127,000 euro electric BMW for their CEO and also paid for his health insurance at €64,000.

BNM are currently working to convert from Brown to Green energy, which include the construction of wind farm across the midlands such as Cloncreen Wind Farm in Offaly and the beginning of construction on Derrinlough Wind Farm also in Offaly

In the past 12 months, the semi state body has invested €100m into the expansion of it's renewable energy portfolio. 

They have also invested €930,000 in local community scheme funding in the past year, making their total investment to date  €4.45 million.

Meanwhile, 5,500 hectares of natural peatlands have been restored by Bord na Móna during the past year, bringing their current total to 14,000 ha. They have committed to restoring 33,000 ha of peatlands over a period of 5 years. 

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