Centrica's residential energy profits heat up

Centrica, the utility company, has released results for the full year to the end of December (results) and have announced a headline 11 per cent increase in profits in residential energy supply. Phil Bentley is to step down as managing director of British Gas by the end of June and will leave the company by the end of the year. Chief executive Sam Laidlaw said:

"Last year we incurred a tax charge of over £1 billion and invested over £2 billion to secure new sources of energy for the UK, well in excess of our profits."