Overcast

Overcast

max temp: 23°C

min temp: 16°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

UK: British Gas owner Centrica on track for £1.4bn profit

08:50 15 November 2012

A British Gas bill behind a burning hob. British Gas owner Centrica courted more anger over its planned price increases today by revealing it is set to make profits of £1.4billion this year

A British Gas bill behind a burning hob. British Gas owner Centrica courted more anger over its planned price increases today by revealing it is set to make profits of £1.4billion this year

BRITISH Gas owner Centrica risked more anger over its planned price hikes today by revealing it is set to make profits of £1.4billion this year.

The company, which will increase its energy prices by 6% tomorrow, said it was on track to meet the City’s expectations for year-on-year growth in earnings.

Analysts also predict around £575million of pre-tax profit from its British Gas residential arm after gas consumption for the first 10 months of 2012 was 9% higher because of colder than normal weather.

The group, which makes most of its profit from upstream gas and oil exploration, provides gas and electricity to almost 16 million households.

Its trading update comes after rival SSE yesterday reported a 38% jump in half-year profits to nearly £400 million.

Centrica has blamed rising energy bills on the costs of carbon reduction targets and upgrading the UK’s gas and electricity grids. It also said it experienced a 13% rise in wholesale gas prices for this winter.

The anticipated 6% profits improvement in residential energy supply has been driven by stronger trading over the first half of the year, with the figure expected to be lower for the second half of the period.

0 comments

A company in Gt. Blakenham has been making insoles for years but everything has suddenly taken off since Usain Bolt started using their products. Pictured is director Bente Smith-Rewse.

He is one of the most recognisable, decorated and influential sportsmen on the planet – but Usain Bolt is now endorsing a product made in the heart of Suffolk.

Ryanair says it will be cutting frequency of flights from Stansted this winter following the Brexit vote.

Ryanair is set to cut capacity and frequency on many of its Stansted routes this winter following the Brexit decision.

Sir Philip Green.

Former BHS boss Sir Philip Green has been branded the “unacceptable face of capitalism” as a parliamentary inquiry found he systematically extracted huge sums from the collapsed store group while leaving its pension fund in deficit.

Mark Pendlington, chair of the New Anglia LEP.

Businesses in Suffolk and Norfolk will this week be urged to put their weight behind plans for a devolution deal with the Government, giving the region greater powers to boost growth and employment.

BHS is closing down in Ipswich

BHS staff in Ipswich have still not been told when the store will close, the Star understands.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24