Centrica profits rise seven fold on back of freezing winter

Centrica - owners of British Gas - has seen profits rocket to just below £1.4 billion mainly through extra use in the UK's freezing winter.

The firm's profits, after tax, were announced this morning (July 28) at £1,386 million up about seven times from 2009 when it earnings were what now seems a lowly £218 million.

However, revenue remained the same year-on-year at £11.7 billion, precisely the same as last year.

Chief executive, Sam Laidlaw, said: "Centrica has performed well in the year to date, with strong results underpinned by improved operational performance in each area of our business.

"We have a sound platform for growth with significant optionality in our investment programme.

"We are therefore well positioned to deliver long-term value for our shareholders while maintaining a competitive, high quality service for our customers."

Luke Walsh




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