Dong sees net profit rise of 12 per cent despite fall in gas prices

However, the Danish energy supplier reported a drop of nearly 5 per cent in pre-tax profits to 6 billion Danish kroner (£5.8 billion) for Q1 2015 since the same time last year.

Dong said the decrease was down to the “positive impact” in Q1 2014 of the partial divestment of the London Array offshore wind farm.

Dong’s chief executive Henrik Poulsen said: “Despite a large divestment gain realised in Q1 2014 and the significant fall in oil and gas prices in 2014, we are posting almost unchanged Ebitda for Q1 2015.

He added that earnings were driven mainly by a “consistently high level of efficient production from our oil and gas fields and offshore wind farms”.

“Moreover two insurance compensations were recognised in Q1. The strong start to 2015 supports the previously announced ambition of achieving EBITDA for the full year of 15.5-17.5 billion Danish kroner,” he added.

Net investments of 35-40 billion Danish kroner are expected for the 2015-2016 period.

Last February, Dong announced that its pre-tax profits had soared by 74 per cent to 15 billion Danish kroner (£1.7 billion) in 2013.

In February this year, the company bought out its Hornsea Project One partner, taking the remaining 66 per cent share and full control of the development.