EDF announce huge profits

EDF Energy’s UK sales stood at €4.39 billion for the first half of the year. Despite the massive gains, the figures are down 8.5% of their last year profits. The […]

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By Tom Gibson

EDF Energy’s UK sales stood at €4.39 billion for the first half of the year. Despite the massive gains, the figures are down 8.5% of their last year profits.

The energy giants say the dip was due to exceptionally mild weather and the streamlining of EDF Energy’s portfolio of industrial customers. Earnings before interest and taxes stood at €1.172bn, with organic growth of 20.7% compared to the first half of 2010.

Audrey Gallacher, Director of Energy at Consumer Focus, said: “With two of the Big Six announcing healthy profits in as many days, consumers who are worried about how to afford heating their homes this winter will be feeling their hackles rising. EDF customers will be wondering whether the firm will follow in the footsteps of other suppliers in announcing huge price rises, and whether they can justify doing so.”