Energis, the British telecoms firm which has a significant Irish operation, reported its first operating profit since beginning a major restructuring strategy in 2002.

The firm, which was taken private in 2002 by a consortium of 15 banks, reported earnings before interest and tax of £10 million sterling (€15.06 million) for the year to the end of March 2004.

Revenue for the year was £745 million, a 3 per cent decline on the previous year's Energis results. This was driven by a fall in revenues made from its wholesale internet service provider business.

Energis said its Irish business was generating revenues worth about €50 million per year. It was also now a profitable business, although only marginally, according to Energis, chief financial officer, Mr Eamonn O'Hare.

He said the firm would continue to grow its Irish business, which has customers such as Tesco, UTV Internet and Apple.