Centrica profits rise again

Graham_Devon

On the back of cold weather and increased tarrif prices, Centrica has stated their profits have risen to 11%.

I kno whow I feel about this, and from the sheepish look on Breakfast this morning, it's obvious what they feel about it.

But how about you? Fair play or not? One thing that seems to unti Guardian and Telegraph commentors is this sort of stuff!

Centrica have stated they do have 700,000 shareholders to look after aswell as green energy cost pressures, which didn't seem the best statement to make. Bonuses at the compnay have increased to £10m.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9896708/Centrica-profits-rise-on-higher-heating-bills.html#disqus_thread

james_toney

I think prices will continue to rise, i think it is terrible state putting more pressure on the normal person with rises of 10% or whatever they were last time..

everything is getting more and more expensive. what with petrol prices and gas and electric. nothing will come good for they country with prices rising like this. and that includes house prices too.

System

Graham_Devon wrote: »

Centrica have stated they do have 700,000 shareholders to look after

Yes please.

Fella

We can all buy shares in Centrica.

Companies that make a profit are what we want & need. It's the companies that make huge losses & have to be bailed out that are the problem.

There's an increasing culture in this country to act like there's something wrong with companies making a profit, an absolutely insane point of view when we're depending on the (increasingly few of them) for jobs, corp tax & dividends (pension funds).

This is a good news story.

Generali

If you look at page 9 of their shareholder presentation (link) you can see their margin on household supply fell quite a bit. That is the price of gas they bought went up by more than the price they sell it for in percentage terms.

Most of the rise in profit came from producing more oil and gas (page 11). That part of the business increased profitability by almost 20%!

It's probably also worth noting that capex rose by about 60%.

@Graham_Devon: do you understand that Centrica is a large and varied corporation that earns its money from many places? They don't just make money from your gas bill. Please note that my comment is in no way abusive. Thank you.

chucky

Graham_Devon wrote: »

On the back of cold weather and increased tarrif prices, Centrica has stated their profits have risen to 11%.

I kno whow I feel about this, and from the sheepish look on Breakfast this morning, it's obvious what they feel about it.

I don't see a problem with this, they're a corporation driven by profit providing returns for shareholders across diverse income streams.

On the household front if you're not happy with their prices don't use them, if you really feel that badly about it buy shares and go to the shareholders meetings or start your own anti-Centrica website.

Graham_Devon

Generali wrote: »

@Graham_Devon: do you understand that Centrica is a large and varied corporation that earns its money from many places? They don't just make money from your gas bill. Please note that my comment is in no way abusive. Thank you.

Of course I understand that. This is is no way me taking offense, but I'm really not sure what you take me for.

I only put the thread up. I specifically made sure my opinion wasn't given, other than saying "I know how I feel".

My opinion is that, due to reasons you have hinted at amongst others, this is good news. However, I would like to see some of these profits put into investment, as we have an energy crisis bubbling.

IronWolf

Centrica are legally bound to do best they can for their shareholders, they aren't a charity.

I'll bet most people in the country with a pension benefit in one way or another from a holding in this.

somethingcorporate

Graham_Devon wrote: »

Of course I understand that. This is is no way me taking offense, but I'm really not sure what you take me for.

I only put the thread up. I specifically made sure my opinion wasn't given, other than saying "I know how I feel".

My opinion is that, due to reasons you have hinted at amongst others, this is good news. However, I would like to see some of these profits put into investment, as we have an energy crisis bubbling.

And the 60% increase in Capex sounds very much like they are investing for the future.

michaels

So lets get this straight, a company sells more of the product in produces and makes more profit...it makes me so mad, I am going to take to the streets and riot.

CLAPTON

a member of a cartel increases profits.


that's what cartels are for.