Centrica Fights Losses

July 2006 | Company Finance Alert

Bucking the trend of higher energy company earnings. UK-based gas-to-power utility Centrica this morning unveiled a 29% decline in operating profits for the first half of 2006, with net income 38% lower at GBP277mn. The group recorded a loss in the British gas Residential Energy business and announced a further highly unwelcome increase in gas and electricity prices from September - aimed at restoring the unit to break-even status later this

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