Jersey Electricity's revenues rose to £103.4m in the year to the end of September - up from £100.5m last time.

Unit sales volumes of electricity were marginally behind last year with Energy revenues at £81.2m against £80.7m in 2015, slightly higher due to some non-recurring installation work in the year.

Turnover in Powerhouse.je, the group's retail business, increased by 8% from £11.1m to £11.9m. Revenue in the Property business rose by £0.1m to £2.1m due to a higher level of rental income.

Revenue from JEBS, its contracting and building services business, rose £1.0m from levels experienced in 2015 to £5.1m. Turnover in other businesses rose £0.5m to £3.0m. Overall cost of sales rose by £0.6m to £65.2m due mainly to additional costs in the non-energy business units associated with the aforementioned rise in revenue, partly offset by a fall in the energy business. Operating expenses, at £23.5m, rose by £1.6m from their 2015 level with an increase in IAS19 pension costs of £0.4m and a £0.7m ex-gratia award for current pensioners being the main items.

Profit before tax, pre-exceptional items, for the year to 30 September, at £13.1m, increased by 6% from £12.4m in 2015. The rise was primarily generated from improved performance in the group's non-energy business units. Profit before tax post-exceptional items, rose from £13.2m last year to £14.8m in 2016. The exceptional credit of £1.7m in 2016 was in respect of the release of a rent accrual that had been accumulated over many years for its La Collette Power Station site.




At 8:05am: (LON:JEL) Jersey Electricity Company The Ltd share price was +4p at 411.5p