Centrica shares fall on profit warning as winter gets off to a mild start November 20, 2014 We might be enjoying the milder-than-usual start to winter, but for Centrica it's been the source of lower-than-usual profits. The multinational utility company, which owns British Gas, admitted in a statement this morning that it had inaccurately read the meter on its earnings estimates issued earlier in the year, and that its profit estimates [...]
Last winter of discontent hits Centrica profits July 31, 2014 The temperature just wasn’t right for profits at British Gas owner Centrica last winter, as group profits were walloped by an extreme polar freeze in the US, contrasting with a mild UK winter. Operating profits at Centrica plummeted 40 per cent in the first half of 2014, down to £890m from £1.49bn over the same [...]
London Report: Lloyds and Centrica pull down FTSE but Shell prevents rout July 31, 2014 BRITAIN’S top equity index yesterday fell as Lloyds Bank pulled down financial stocks, while concerns about the impact on Europe from tensions between Russia and Ukraine also made traders wary. The blue-chip FTSE 100 index closed down by 0.6 per cent, or 43.33 points, at 6,730.11 points. Shares in Lloyds, which had risen for the [...]
British Gas profits down as Centrica hit by UK warmer weather and US polar vortex July 31, 2014 Pre-tax profits at British Gas owner Centrica fell 40 per cent in the first half of the year as British Gas felt the effects of warmer weather in the UK. British Gas operating profit dropped 26 per cent as gas consumption fell 24 per cent and electricity use dropped nine per cent. Customer numbers at the [...]
Iain Conn named new boss of Centrica July 29, 2014 Iain Conn has been appointed chief executive of Centrica, the company that owns British Gas. He will take up the position at start of next year, after current chief executive Sam Laidlaw retires from the board. Conn is currently the head of refining and marketing at BP, and has been appointed by Centrica [...]
BP’s Iain Conn in talks to take Centrica top job July 24, 2014 CENTRICA finally confirmed yesterday that it was in talks with BP’s Iain Conn over the possibility of him taking over the top role from Sam Laidlaw. Oil major BP announced yesterday afternoon that Conn was stepping down by the end of the year after almost three decades at the company, prompting a statement from the [...]
Centrica puts Caribbean gas sites up for sale amid disposal plans June 23, 2014 British-Gas owner Centrica has appointed Canadian finance giants Macquarie to auction off the energy firm’s gas operations in Trinidad. The FTSE 100 firm, run by chief executive Sam Laidlaw, is hoping to sell its gas operations in the Caribbean state along with assets in Tobago for a price tag in the region of £250m, it [...]
Centrica boss Laidlaw gets cold feet over top job at BG Group June 16, 2014 CENTRICA chief Sam Laidlaw will not be moving to take the vacant top spot at BG Group, according to reports that he has privately ruled himself out of the position. The chief executive has been regularly named in connection with the opening at BG group. Laidlaw indicated earlier this year that he wishes to step [...]
Centrica loses MD for the top job at Aggreko May 29, 2014 Aggreko, the temporary power hire company, has appointed Chris Weston as its new chief executive officer, confirming reports leaked last night. He has handed in his resignation at Centrica, where he was managing director of the company's international downstream division. Weston will replace Rupert Soames, who has taken the top job at Serco, after 11 [...]
Centrica set for major shakeup May 28, 2014 BRITISH Gas managing director Chris Weston is to step down this week, and is now reportedly in advanced talks to take over as chief executive of Aggreko. The move would indicate that a major reorganisation is in the offing at Centrica, the parent company of British Gas. Chief executive Sam Laidlaw is also said to [...]