Jersey Electricity Reports Strong Financial Performance and Future Sustainability Plans

Jersey Electricity ( (GB:JEL) ) has shared an update.

Jersey Electricity PLC announced its financial results for the year ending September 2024, reporting a revenue increase of 8.5% to £135.7 million and a profit before tax of £15.1 million. The company is investing £120 million in upgrading its electricity network and enhancing supply security, aligning with its sustainability objectives. Key initiatives include the Solar 5000 campaign and the exploration of offshore wind projects, aiming to transition to low carbon energy solutions. Despite global economic challenges, the company maintains strong financial performance and resilience.

More about Jersey Electricity

Jersey Electricity PLC operates in the energy sector, focusing on providing electricity and energy services in Jersey. The company is committed to sustainability and has set goals to support the island’s net-zero ambitions by 2040, with significant investments in infrastructure and renewable energy projects.

YTD Price Performance: 9.35%

Average Trading Volume: 2,341

Technical Sentiment Consensus Rating: Hold

Current Market Cap: £134.8M

For an in-depth examination of JEL stock, go to TipRanks’ Stock Analysis page.