Mixed results as sales reached £27.97bn, representing a 4.9% yoy decrease and falling short of expectations due to the decrease in customer accounts, and gas and electricity consumption. Operating profit finished in negative territory at -£857m due to £2.35bn of impairments and provisions, while on an adjusted basis it reached £1.38bn, which represents a 20% yoy decrease and missing forecasts. Bottom line, the group has performed better than expected due to lower finan
19 Feb 2016
Weak top-line with good cash flow performance; exit of E&P being evaluated
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Weak top-line with good cash flow performance; exit of E&P being evaluated
Centrica plc (CNA:LON) | 128 0 0.0% | Mkt Cap: 6,882m
- Published:
19 Feb 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
Mixed results as sales reached £27.97bn, representing a 4.9% yoy decrease and falling short of expectations due to the decrease in customer accounts, and gas and electricity consumption. Operating profit finished in negative territory at -£857m due to £2.35bn of impairments and provisions, while on an adjusted basis it reached £1.38bn, which represents a 20% yoy decrease and missing forecasts. Bottom line, the group has performed better than expected due to lower finan