Any thoughts on the company?


Red line 200 MA

24 Mar 2015 "Deutsche Bank cuts Centrica to 'sell' from 'hold', target cut from 280p to 225p"

ta

results next thursday 7 am

the final div over 11p

Centrica acquires portfolio of UK North Sea assets



Centrica plc, the parent company of British Gas, has reached an agreement with Total E&P UK Limited (and its affiliates) to acquire their non-operated portfolio of producing oil and gas assets and associated infrastructure in the Central North Sea (CNS) for a total cash consideration of $388 million (£246 million). Around 20% of the consideration is allocated to UK tax allowances.

The portfolio includes seven producing fields in three major areas: Greater Armada, the Alba field and the Mungo and Monan cluster. Centrica��"s share in these fields has an estimated 22 million barrels of oil equivalent (mmboe) of 2P reserves (36% gas, 64% oil), increasing its reserves by approximately 5%, and is expected to produce 9,300 boe per day in 2012. The oil and gas is mostly un-contracted and linked directly to the UK market.

The acquisition is expected to add immediate strong cash flow and increase Centrica��"s scale in the CNS region. The transaction will also help to maintain the mix of oil in its upstream portfolio.

Mark Hanafin, Managing Director of Centrica Energy, said:

��SToday��"s announcement marks another step in the growth of our upstream oil and gas business. This acquisition in the North Sea provides a good fit with our existing portfolio and strategy, bringing strong cash flow and adding value for Centrica. It underlines our commitment to invest where we see attractive opportunities, securing future energy supplies for the UK.⬝

"The acquisition is expected to add immediate strong cash flow"

Surprised this statement alone hasn't given the SP a lift this morning!

Centrica in $388m Total North Sea grab Eoin O'Cinneide 22 February 2012 07:49 GMT http://bit.ly/wdvwQQ

Hi Opto - nothing much is going up today - unless its reporting or being taken over!

GF - you must get up earlier! :-)

Morning Skinny
Saving the SP rise for tomorrow's results announcement....hopefully :-)
GF. Alarm on for 7am in the morning :-)

Blimey guys I dont get to bed most nights until past 4 am after my system research. Then a 7.30am rise.

Im looking skinny like skinny, worn out. Not you skinny me.

Final Results.

PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011

OPERATING AND FINANCIAL OVERVIEW

RESILIENT FINANCIAL PERFORMANCE IN CHALLENGING CONDITIONS

Adjusted earnings` up 3% to £1,333 million; 25.8 pence adjusted basic earnings per share`
British Gas Residential operating profit* down 30% to £522 million
Upstream UK operating profit* up 33% to £1,023 million
North America operating profit* up 33% to £312 million
Adjusted tax charge^ increased from £761 million to £891 million; 40% effective tax rate^
£500 million cost reduction programme underway to maintain competitiveness and enable growth

DELIVERING INVESTMENT FOR GROWTH

£1.6 billion invested in 2011; already announced a further £1.4 billion of acquisitions for 2012
Established long term strategic partnerships with Qatargas and Statoil
Commitments to secure gas for the UK now total over £50 billion
Upstream UK gas and oil production expected to increase by over 25% in 2012
Lincs offshore windfarm on track to produce first power this year

DELIVERING FOR OUR CUSTOMERS

First of the major energy suppliers to cut prices in 2012
Cheapest standard electricity of any major supplier at average consumption
Actual household dual fuel bill £37 lower on average in 2011 at £1,024
Introduced tariff checker for customers
Widest eligibility for Warm Home Discount

DELIVERING FOR OUR SHAREHOLDERS

Full year dividend up 8% to 15.4 pence per share, reflecting long-term growth through investment
S2011 was a tough year, both for Centrica and our customers. But the strength of our integrated business and balance sheet means we"ve been able to take the lead in helping customers through these difficult times, as well as delivering growth and making the investments on which Britain"s energy future depends.⬝

Sam Laidlaw
Chief Executive

STATUTORY RESULTS

Operating profit⬡: £1,414m (2010: £3,074m)
Earnings: £421m (2010: £1,942m)
Basic earnings per ordinary share: 8.2p (2010: 37.6p)
Earnings include exceptional items relating to provisions for onerous contracts, impairments, restructuring costs, contract migration, a change in the UK upstream tax rate, an exceptional credit relating to pension curtailment and a loss on disposal of Oxxio. The total impact is a charge of £522 million after taxation.
A definition of the profit measures used throughout these results is provided in the Group Financial Review. A reconciliation between operating profit and adjusted operating profit is provided in note 5(b) and a reconciliation between the earnings measures is provided in note 10. Further details on exceptional items are included in the Group Financial Review and in note 6.

final div 11.11p ex div25th april

In summary, the Centrica business model remains resilient, underpinned by strong cash flows and an attractive pipeline of investment projects. The business is well placed for the long term and we will continue to improve the service offering for our customers, both in the UK and North America. We will also drive further cost savings across the Group to enhance our competitiveness, and deliver increasing value through the efficient deployment of capital, in order to continue to enhance returns for shareholders.

Sam Laidlaw

this was the bit i liked

Very solid results.

Pleased with them.

deployment of capital . how much S/D

SAP results was great. CNA should get coverage over the weekend.

there N/S is going to be a great buy and more to come great news for holders .
the only way is up

If you think the market is going to drop 400+ points, then this is going to go with it! The only way is not, therefore, up!

harryu read again for the divs in these bad times for markets and i will sell my rsa before or after div and if these fall will buy more

i have taken a chance andsold just a few of these to buy more rsa as they go ex div in 4 weeks and hope cna dont rise to much before i switch back