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| 26/07/2012 |
Centrica Reports 15% Rise In Profits |
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Owners of British Gas, Centrica, have reported a 15% rise in first-half adjusted operating profits to £1.45bn.
The results include a 23% rise in operating profits at its residential energy division, British Gas, to £345m.
The company said volumes were boosted by the "colder than usual" weather between April and June.
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However, wholesale prices have dropped since then.
The warning came just four months after it had announced a 5% cut in its standard electricity tariff.
But prices in the first six months of 2012 were still higher than a year ago, as electricity prices were raised 16% in August 2011 and gas bills also went up by 18%.
In its latest results statement, Centrica chief Sam Laidlaw said the group had performed well despite "challenging market conditions".
(H)
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