7:52 am, Fri June 13, 2025
Wigton Energy is reporting that its net profits dipped to $303 million on a 10% drop in its revenues to $1.85 billion during the year ended March 25.
This was less than the net profits of $481 million before tax credits generated on revenues of $2.1 billion recorded for the previous year.
The company says the decline in its profitability was mainly due to the ageing of one-third of its wind turbines.
Wigton, however, says it is trying to combat this with more investments in solar plants while stressing that it has already invested in a 70-megawatt plant in Rose Hill, Manchester.