The UK's leading nuclear power firm, British Energy, has again demonstrated an improved financial position in its latest periodical declaration, having more than doubled net profit for the first nine months of the year compared to the same period of fiscal 2006.
<p>According to the energy producer, net profit for the first three quarters combined was GBP360 million. For the same period last year the figure was just GBP173 million. <br /><br />The strong performance has come despite British Energy suffering from reduced output because of maintenance issues at several of its facilities. However, the firm said that price inflation for its energy and improved operating margins underpinned the profit rise. Operating margin increased to GBP14.0/MWh for the period from GBP6.4/MWh in the comparable previous period.<br /><br />Earnings before considerations were GBP775 million. This was an impressive improvement on the corresponding prior year figure of GBP462. Meanwhile, revenues for the nine months were GBP2.1 billion, compared to the previous figure of GBP1.7 billion.<br /><br />Total output for the period was 44.0TWh (nuclear 38.9TWh, coal 5.1TWh), down from 48.7TWh for the first nine months of 2006 (nuclear 43.9TWh, coal 4.8TWh).<br /><br />The financial announcement comes as British Energy has invited other energy firms to register their interest in a possible collaboration with it on building a new generation of nuclear power facilities in the UK.</p>