9:56am Friday 3rd September 2010
A GREEN energy efficiency business based in the North-East is shedding 223 jobs under a voluntary redundancy programme.
After posting a rise in annual profits and income, Newcastle based Warm Front company Eaga said the job losses were a bid to cut costs.
The firm’s full-year results revealed a 7.5 per cent rise in underlying pre-tax profits to £51m in the 12 months to May 31.
Eaga, which helps install energy-saving measures such as insulation in households under government schemes, employs 5,000 people in the UK, Ireland, India and Canada.
Britain’s biggest residential energy efficiency provider said it achieved the results despite a tough year.
Chief executive Drew Johnson said: “The economic and political backdrops throughout the year have contributed to a challenging trading environment for the group.
“Despite these external factors, the group has continued to deliver growth in both revenues and profits while maintaining our commitment to delivering high quality services to our customers.”
Government funding for the heating and insulation Warm Front scheme has fallen by 11 per cent.
Eaga has the Warm Front contract until March, but the Government has still to confirm how it will fund the programme in the longer term.
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