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Centrica PLC on Wednesday said performance so far this year has been in line with expectations against the backdrop of a more ‘normalised’ external environment. In a trading statement ahead of Wednesday’s annual general meeting, the Windsor, England-based owner of British Gas said full year group adjusted earnings per share are expected to be in-line with consensus analyst expectations. Centrica put the analyst range for adjusted EPS at between 15.8 pence to 21.0p with a mean consensus of 18.3p. This will be sharply down from adjusted EPS of 33.4p in 2023 and 34.9p in 2022. Shares in Centrica were down 4.7% to 135.60p in London on Wednesday. The wider FTSE 100 index was up 0.1%. The company said all retail supply and optimisation businesses will be within their medium-term sustainable adjusted operating profit ranges in 2024, two years ahead of schedule. British Gas Services & Solutions is expected to deliver an improved financial result compared with last year, underpinned by strong operational performance, as it continues recovery towards its medium-term sustainable adjusted operating profit range. Centrica said its hedging policy will underpin a resilient first half for its Infrastructure businesses. Second half results are expected to reflect lower commodity prices though, it added. Group profitability will be strongly weighted to the first half of the year, Centrica added. Interim results will be released on July 25. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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