Centrica (CNA)

Sector:

Utilities

Index:

FTSE 100

132.00p
   
  • Change Today:
      1.85p
  • 52 Week High: 172.50
  • 52 Week Low: 115.60
  • Currency: UK Pounds
  • Shares Issued: 5,283m
  • Volume: 30,138,356
  • Market Cap: £6,974m
  • RiskGrade: 165

British Gas owner Centrica sees earnings slump

By Abigail Townsend

Date: Thursday 25 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Centrica reported a slide in full-year operating profits on Thursday, weighed down by Covid-19, as it paused the final dividend.

Adjusted operating profits for the 12 months to 31 December, which exclude Direct Energy, came in at £447m, a 31% fall. The owner of British Gas attributed the decline to negative impacts of Covid-19, warmer weather and low commodity prices. Earnings per share slid 11% to 6.5p

Group revenues from continuing operations were £14.9bn, compared to £16.0bn a year previously, while the total number of residential customers fell 2% to 9.2m. British Gas Energy customers fell 2% to 6.9m.

Total exceptional charges were £1.6bn, which included restructuring charges of £274m and impairments of £1.3bn. The operating loss from continuing operations was £362m, although that was an improvement on 2019's loss of £783m.

Centrica completed the £2.4bn sale of Direct Energy, its North American energy supply business, in January. It is part of a wide-ranging overhaul of the business, initiated by new chief executive Chris O'Shea, which includes the loss of around 5,000 jobs and the introduction of new terms and conditions for service engineers.

The firm, which was booted out of the FTSE 100 last year, said over 80% of workers had now accepted the terms but industrial action by some engineers was ongoing.

O'Shea said: "We have made a good start to the turnaround of Centrica, with the sale of Direct Energy now complete and our significant group restructuring on track.

"However, our journey to transfer has only just started as we seek to restore shareholder value by improving customer experience, retention and employment engagement while managing a strong balance sheet.

"It won't be easy, but I am confident with have the people, brands and market position to deliver a successful turnaround in the coming years."

The group announced in April that it was cancelling the 2019 final dividend in response to the pandemic. No interim payment was paid for 2020, and on Thursday Centrica confirmed that no final payment would be paid.

It did not say when payouts would resume, but noted: "We recognise the importance of dividends to shareholders and intend to recommence dividends to shareholders when it is prudent to do so."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Centrica Market Data

Currency UK Pounds
Share Price 132.00p
Change Today 1.85p
% Change 1.42 %
52 Week High 172.50
52 Week Low 115.60
Volume 30,138,356
Shares Issued 5,283m
Market Cap £6,974m
RiskGrade 165

Centrica Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.71% above the market average91.71% above the market average91.71% above the market average91.71% above the market average91.71% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Price Trend
40.65% above the market average40.65% above the market average40.65% above the market average40.65% above the market average40.65% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
65.70% above the market average65.70% above the market average65.70% above the market average65.70% above the market average65.70% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
63.29% above the market average63.29% above the market average63.29% above the market average63.29% above the market average63.29% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 3
Buy 6
Neutral 6
Sell 0
Strong Sell 0
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Centrica Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 05-Oct-23
Paid 11-Jul-24 16-Nov-23
Amount 2.67p 1.33p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 2,003,401 @ 132.00p
16:35 33,625 @ 132.00p
16:35 12,609,029 @ 132.00p
16:35 2 @ 132.00p
16:35 5,200 @ 132.00p

Centrica Key Personnel

Chair Scott Wheway
CEO Chris O’Shea

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