NTR ‘well positioned’ following strong financial results

Renewable energy and sustainable waste operator NTR has stated it is "well positioned" to continue to improve its empire within the sector, it has been stated.

Michael Walsh, NTR Group Finance director, made the comments after the company released its financial results for the first half of the year, up until September 30th.

Following the sale of Airtricity and the West-Link toll bridge the company continues to do well, with a year-on-year revenue jump of 76 per cent, to €281.6m and a net profit for the period of €23.3m.

Mr Walsh said: “Our investments in the renewable energy and sustainable waste management sectors, together with our strong cash resources, leave us well positioned from both a strategic and financial perspective.

“NTR has taken strategic positions in renewable energy and clean-tech markets with long-term structural growth prospects.”

He added that the company will continue to “respond decisively” to short-term problems in the waste management sector and initiate further development in renewables.

Last month, NTR entered a joint venture to work towards next generation biofuels by through research and development into the commercialisation of algae production.

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