British Gas - a 'Weak' Year

Legacy_user

It would seem that British Gas is struggling: if a profit of £1.25Bn can be described as struggling. Sadly, there will be 4000 redundancies. And the blame for BG's woes sits with:

a. the 750,000 customers who have switched (how could they have been so heartless?)

b. intense competition.

c. the Government.

d. and people doing more online.

Clearly, no responsibility for this profit fall sits with BG's senior management. Words like 'asleep on the job' and 'eye off the ball' come to mind.

https://www.bbc.co.uk/news/business-43152166

[Deleted User]

British Gas's natural customer base is passing away and younger one (under 75's) can figure out that BG isn't value for money in most cases.
So the old name loyalty is vanishing and the management have no idea how to move the brand forward.

twhitehousescat

shoot the bloody penguin!

D_M_E

Oh, my, how can they get by on a mere £1,200,000,000?

Will the Directors and other top brass lose their bonus? Guess not.

Will the dividend increase? Guess so.

Reminds me of a year or 3 ago when M&S had a bad year - their profits went down from £1,000,000,000 to a miserly £600,000,000 and guess what, mass redundancies announced, poor shareholders not getting enough return, etc etc.

Where will it end?

Raxiel

Exclusive livestream of the British Gas Boardroom:



Perhaps we should organise a charity concert for them!

House_Martin

I do hope Mr/Mrs Hengus will keep us all in touch with Eon, Npower, EDF , Scot Power and SSE when they publish their yearly results .I ll be watching out for the financial yearly results for the other big 5 via Hengus with interest
Somehow I doubt it .
BG singled out for a slagging off for some weird reason.

System

House_Martin wrote: »

I do hope Mr/Mrs Hengus will keep us all in touch with Eon, Npower, EDF , Scot Power and SSE when they publish their yearly results .I ll be watching out for the financial news via Hengus with interest lol
Somehow I doubt it .
BG singled out for a slagging off for some weird reason.

If my posting a link to a report about BG in the media has upset you, then no doubt you will be even more upset that BG!!!8217;s smart meters will in future no longer be made in the UK.

https://www.insidermedia.com/insider/northwest/landisgyr-to-move-gas-smart-meter-production-from-uk-gmb

http://www.bbc.co.uk/news/uk-england-manchester-43155707

Sad for the people concerned, but L and G is a Swiss Company and it has spent the last couple of years desperately trying to get away from its largest shareholder (Toshiba).

L and G is now a listed company on the Swiss Stock Exchange after an IPO (Initial Public Offering) sale in July 2017.

House_Martin

Landis and Gyr is a multinational, (like Centrica )actually owned by the Japanese Toshiba company since 2011.
I always thought they made their excellent smart meters in Europe .

System

House_Martin wrote: »

Landis and Gyr is a multinational, actually owned by the Japanese Toshiba company since 2011.
I always thought they made their excellent smart meters in Europe .

Toshiba - no longer. Shares in Landis and Gyr were offered to the market/ public in July 2017 under an IPO sale.

https://www.reuters.com/article/us-landis-gyr-ipo-priced/landisgyr-dips-on-debut-after-biggest-swiss-ipo-in-11-years-idUSKBN1A60DO

Quote: Landis+Gyr was majority-owned by Japan’s Toshiba and had said it wanted to cut ties with its scandal-hit parent.

Toshiba bought a 60 percent stake in Landis+Gyr in 2011 but had to sell its shares, along with other assets, to raise funds to cover losses at its bankrupt U.S. nuclear unit Westinghouse. It is also embroiled in a potentially costly accounting scandal.

Landis+Gyr had pursued a “dual track” approach of preparing for an IPO while leaving the door open for an outright sale. Unquote

The ‘outright’ sale offer was withdrawn due to a lack of interest.

House_Martin

Well Googled for the latest info on L and G hengus !
Hope you will cover the next profit and loss details when they appear from our friends over the channel as the last lot from the European invaders are poor. The last financial year from .Eon ..utter rubbish , big losses, ( which is why they buy sub standard Indian smart meters ). RWE,- ditto, even worse, EDF- losses last financial years. Scot Power- ..poor, and SSE actually not too bad, in line with BG.
They are all losing customers to the cheapjacks , some of which are going bust, like Hengus`s poor choice of GB Energy last year. Hope you got your money back Hengus !
The tariff tarts get what they deserve IMO
.So BG is the best performer of the big 6 despite negatives from Hengus in his/her very odd thread he/she started

MeterMan

... I wonder if the recent recall of smart meters will hit their share price, or at least give you guys something to sink your teeth into.