Popular News From Popular Sites: Centrica first-half profits fall 35 percent

Thursday, July 31, 2014

Centrica first-half profits fall 35 percent

File photogrpah shows a gas cooker in Boroughbridge By Susanna Twidale LONDON (Reuters) - British utility Centrica saw operating profit fall 35 percent in the first half of the year as a mild winter in Britain led to reduced energy demand and extreme weather in North America increased costs. Centrica made 1.032 billion pounds in operating profit, down from 1.583 billion a year earlier, it said on Thursday. The company was hit by 65 million pounds of costs relating to the polar vortex cold snap that hit North America earlier this year. “The first half of the year has seen challenging market conditions across the Group, both as a result of the weather and reflecting the wider political environment," said Centrica chairman Rick Haythornwaite in a results statement.




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