Irish energy firm ESB announced an operating profit of €337 million, an increase of €10 million on the same period in 2014, although its progress was crimped by factors such as the weakening euro against sterling, according to interim financial statements released last Thursday.

ESB’s Chief Executive, Pat O’Doherty, said: “These results reflect a solid performance in the first half of 2015, while markets continue to be challenging as wholesale electricity prices remain low.

“ESB continues to deliver value for its customers, its shareholders, and for the Irish economy, while maintaining its financial strength and credit rating.”

Profit after tax was €201 million, an increase of €93 million on the same period in 2014.