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"

If only! An open ended stab in the dark!!! ;o)

IMS on Monday.

Interim Management Statement

Summary

Centrica is today providing an update on its business performance. Overall, the Group continues to trade in line with the guidance provided at the time of its 2014 Preliminary Results in February, with improved year-on-year profitability downstream expected to be more than offset by the impact of lower commodity prices on the upstream business. In the year to date, the Group has:

experienced colder than normal weather in both the UK and North America, resulting in higher than expected energy consumption in British Gas and Direct Energy;
progressed capital expenditure and cost reduction programmes in E&P against a continued low commodity price backdrop;
made good progress in strengthening its balance sheet and financial metrics, through the issue of £1 billion equivalent of hybrid securities and the sale of Lincs wind farm debt; revised Moody’s credit rating of Baa1 (stable outlook) is consistent with the Group’s target to maintain a strong investment grade credit rating;
launched group-wide strategic review covering: (i) outlook and sources of growth;
(ii) portfolio mix and capital intensity; (iii) operating capability and efficiency;
(iv) Group financial framework. The outcome will be presented at the time of the Interim Results in July 2015.
The Group’s earnings remain subject to the usual variables of commodity prices, weather and asset performance, and the uncertain outcomes of the UK General Election and the Competition and Markets Authority investigation into the UK energy market.


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Going Ex Divi as well this week paying 8.4p.

Into the gap once more......

As one gap closes ....

Deutsche Bank Hold 277.30 225.00 250.00 Upgrades

Jefferies International Buy 279.70 - 310.00 Initiates/Starts

Tentatively trading above the 200MA today...not an area we have been in for some time.

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Copied from over the road - Big Six force climbdown in energy profits storm

British Gas to cut gas prices by 5%

Berenberg Buy 280.30 280.30 295.00 310.00 Reiterates

Goldman Sachs Buy 272.00 285.00 305.00 Reiterates

Investec Buy 272.40 250.00 300.00 Upgrades

Half Yearly Report

Performance summary

Group adjusted operating profit down 3%, with higher profit from customer-facing businesses more than offset by lower profit from upstream gas and power businesses; Group adjusted EPS up 17%, reflecting a lower tax rate due to the change in operating profit mix.
British Gas operating profit up:
Higher residential energy consumption due to colder weather compared to a warm first half of 2014, falling wholesale gas costs, net lower other costs including ECO; residential energy market share broadly stable.
Two reductions in household gas bills totalling 10% this year, saving customers £72 per year on average.
Residential services impacted by challenging sales environment; new propositions to be launched in second half of 2015.
Business energy supply impacted by issues following the implementation of a new billing and CRM system; actions in place to resolve issues by the end of 2015.
Direct Energy operating profit significantly up:
Managed extreme cold weather well in residential and business energy supply, with no repeat of additional costs incurred in 2014.
Increased bundling of offerings in residential energy supply and restoration of higher margin contracts sold in prior periods now benefitting business energy supply.
Accelerated investment for future growth in solar business, resulting in an operating loss in services.
Centrica Energy operating profit and earnings down reflecting lower wholesale gas, oil and power prices:
Flat year-on-year E&P production and good nuclear operational performance.
On track to deliver E&P capital expenditure and cash production cost reductions.
Good first contribution from Bord Gáis Energy; Centrica Storage operating profit broadly in line with 2014.
Interim dividend per share down 30%, following the decision earlier in the year to rebase the dividend.
Good progress made in strengthening the balance sheet and financial metrics; successful hybrid bond issuance and strong first-time scrip dividend take-up; Group free cash flow positive with net debt reducing by around £300 million since the start of the year.
Full year outlook broadly unchanged, but uncertainties include continued low wholesale commodity prices and a competitive environment for our customer-facing businesses, as well as the ongoing resolution of British Gas business energy supply billling issues; Group adjusted basic EPS expected to be weighted towards the first half of the year.

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Good morning skinny and congratulations on getting the report on here I think even before the RNS was posted.
I think it is not a bad report considering all the hassle Centrica has had over the last six months. No doubt it will be reflected in the various bonus schemes that will surface.

"We will aim to deliver long-term shareholder value through both returns and growth:"

But at the moment they are putting the shareholder value in the back cupboard in keeping the 30% divi cut!

Now will someone do a Zurich/RSA on us please!