Centrica on track to meet profit forecast

first_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeWolf & ShepherdNFL Star Rob Gronkowski’s Favorite ShoesWolf & ShepherdBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastDaily Finance StoriesChrissy Metz, 40, Shows Off Massive Weight Loss In Fierce New PhotoDaily Finance StoriesBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeMoneyPailShe Was Famous, Now She Works In {State}MoneyPailOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesLoan Insurance WealthHow Amal Clooney Looks Without Makeup Is Tough To HandleLoan Insurance Wealth whatsapp Tags: NULL Centrica on track to meet profit forecast Wednesday 17 November 2010 8:32 pmcenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Share CENTRICA, which owns British Gas, continued to perform well during the third quarter it said yesterday.The group forecast operating profit for the year would be slightly ahead of market expectations of around £2.2bn although this would be slightly offset by interest and tax charges relating to several joint ventures. Centrica said interest charges were likely to be over £200m adding net debt stood at £3bn at the end of the third quarter. Based on current estimates of the mix of profits Centrica expects its effective tax rate for the financial year to be around 37 per cent.Last week British Gas said it was increasing household gas prices by seven per cent at the start of December, blaming network charges and environmental obligations as well as a rise in wholesale prices for gas and electricity. Yet in July, it said half-year profits had been boosted by the then low level of wholesale gas prices. British Gas also said it had boosted residential energy accounts by 270,000, this year. Audrey Gallacher, head of energy at Consumer Focus, said: “Customers will be baffled as to why they are being told to pay more when British Gas are on track for such huge profits.” Show Comments ▼last_img read more