Centrica Sees In-Line Full-Year Performance Despite Hit From Energy Prices
Profitability is expected to be strongly weighted to the first half of the year
British Gas owner Centrica CNA 0.74%increase; green up pointing triangle said its performance in the year so far has been in line with expectations, while flagging second-half results will be hit by lower commodity prices.
The U.K. energy company said Wednesday that it expects its full-year adjusted earnings per share to meet analysts views of 15.8 pence to 21.0 pence, based on a company-compiled consensus of fourteen forecasts.
Centrica said its retail supply and optimization businesses are on track to perform within their medium-term adjusted operating profit ranges, two years ahead of schedule.
Meanwhile, its British Gas services and solutions unit is expected to deliver a better financial result than last year. In 2023, the unit booked 47 million pounds ($60 million) of adjusted operating profit.
Profitability is expected to be strongly weighted to the first half of the year, Centrica added.