Centrica lifts earnings guidance again, names new CFO
British Gas owner Centrica lifted earnings guidance again as volumes from its electricity generation and gas production operations remained strong amid surging energy prices for consumers.
Gas, Water & Multiutilities
In an extremely brief trading statement, the company said in now expected full year adjusted earnings per share of above 30p compared with a previous estimate of between 15.1p and 26p provided on November 10.
The company said it expects 2022 closing net cash to be above £1bn. In a separate statement the company named Russell O'Brien as its chief financial officer effective March 1 with current finance chief Kate Ringrose stepping down at the end of February after two years in the role.
“Higher energy prices are not bad news for everyone – with Centrica once again upgrading forecasts. How much credit the business itself can take for its revived fortunes is an open question but, for now, financial performance is undoubtedly strong," said AJ Bell investment director Russ Mould.
Reporting by Frank Prenesti for Sharecast.com