British Gas owner Centrica reports record £2.8bn profits
Rip off Britain: Linda explains issue with British Gas
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
British Gas parent company Centrica has reported a surge in its annual underlying operating profits.
The firm’s earnings skyrocketed as Britons struggled to meet the cost of living, reaching £2.8 billion.
The reported profits mark a threefold increase from £392 million in 2021, establishing a new record.
The last record-breaking year for British Gas was in 2012, when the firm reported profit margins of £2.7 billion.
The latest boost for the firm follows a year of high energy prices prompted by the war in Ukraine.
Wholesale prices rose to new highs as supplies dropped, caused in part by sanctions imposed on Putin’s government.
While the news will be welcome for the firm’s investors, it may leave many Britons incensed after gas bills left them cash-strapped.
We’ll be bringing you the very latest updates, pictures and video on this breaking news story.
For the latest news and breaking news visit: /news
Stay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you.
Follow our social media accounts here on facebook.com/DailyExpress and @daily_express
Source: Read Full Article