Popular News From Popular Sites: Centrica Profits Tank 35% on UK's Warm Winter

Thursday, July 31, 2014

Centrica Profits Tank 35% on UK's Warm Winter

Centrica Profits Tank 35% on UK's Warm Winter Centrica has revealed that operating profit tumbled by 35% after British customers turned down the heating thanks to a milder than usual winter. The British Gas owner only make £1.03bn (€1.3bn, $1.75bn) in the first six months of the year, compared with £1.58bn it made a year earlier. Centrica also said extreme weather in America because of the US polar vortex cost it £65m. "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.




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