British Energy has reported pre-tax profits of £599m ($1.1bn) - the nuclear power firm's first set of results since a major restructuring last year.
British Energy says it has benefited from higher energy prices
The company, which sells electricity to wholesale customers, said it had benefited from higher energy prices.
British Energy completed a financial rescue deal in 2005, which saw it issue new bonds to creditors in a bid to avoid bankruptcy.
The firm operates eight nuclear power plants and one coal-fired station.
"We have seen rapidly changing energy markets leading to a significant increase in UK power prices over the year," said chairman Sir Adrian Montague. "British Energy has benefited from these price increases".
However, a report in March this year warned that the cost of covering British Energy's nuclear liabilities had gone up by 50%, following a costly government bail-out of the nuclear power generator in 2002.
The National Audit Office said that UK taxpayers faced a "significant risk" of a bill of £5bn.
The government has indicated that it is prepared to sell part of its majority stake in the firm.