‘British Gas owner set to report nearly £1bn in first-half profits’

Analysts predict that Centrica will report an operating profit of £997 million for the period, which is anticipated to represent around 62% of its total expected earnings of £1.6 billion for the year

Dimitris Mavrokefalidis

07/22/2024 7:40 AM

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British Gas owner Centrica is projected to report a record annual profit of £1.6 billion, with operating profit for the first six months of the year estimated at £997 million.

This figure represents approximately 62% of the company’s anticipated full-year earnings.

According to analysis by investment bank Jefferies, Centrica’s first-half profits in 2022 and 2023 accounted for 50% and 75% of their full-year totals.

The company may also announce a new share buyback, following several previous rounds over the past year.

Centrica is expected to release its financial results for the first half of the year on Thursday 25th July.

Energy Live News has approached Centrica for comment.