💡 Centrica plc 🔥 (£CNA)

I’d encourage people to read their financial report. Many of the news reports are… an interesting take

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Say they will pay a dividend until uk govt decide to impose a special tax grab on them.
How dare a company make money :see_no_evil::joy:

Its different making money and absolutely taking the pish out of the average man and woman though mate,blaming the cost increases in energy on putin etc then having a astronomical profit increase🤣

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Looking to buy this stock but a bit confused, checked on Google centrica owns British gas right but the stock is 83.51, is this the same stock?

That price on Google Finance is in pence - (GBX).

The price on the Freetrade app is in £.

Screenshot 2022-08-16 at 11.57.41

They do, it’s worth doing some research as they make the majority of their profit from their other business.

Welcome to the community @Vntrader :ocean:

Oh also just watch out, Freetrade price in GBP while many places price in GBX (pence)

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They have their interim financial report out which goes into some detail on how each part of the business is doing (including British Gas) worth a read

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So it’s the same company on free trade right?

I might invest as they own British gas and surely with the price hike they will be raking it in come October

Yep you’ve got the right one.

The only caution I would show, if I were you, is that everyone know the price cap is going up in October & then reviewed every 3 months. This means as an investor you don’t have any information the market doesn’t so it’s like to have been accounted for in the current price.

The other thing to be aware of is that most of Centrica’s profits don’t come from British Gad but from their other operations. As @Eden mentioned it’s worth looking at their investor relations page for their annual report to understand their business fully.

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Surprised there was no thread for Centrica given the market share and name recognition of British Gas. Centrica also own energy supply businesses in the US and Ireland. They are trying to sell their stake in Spirit Energy - an oil and gas production firm, and their stake in EDF’s UK nuclear plants.

Down ~18% today after announcing a £1.1B annual loss. Largely due to write downs on the parts of the business they’re trying to sell. British Gas itself is profitable, but those are falling due to the price cap and continued (but slowed) customer losses. - Centrica plc (CNA.L) Stock Price, News, Quote & History - Yahoo Finance

Centrica had their profits fueled by complacency for too long, essentially scamming the elderly and the vulnerable. I have enjoyed seeing them suffer.

If you are with British Gas, you should switch. Even if you are in rented accommodation, your landlord is unlikely to object. Message me and join bulb. Or join basically anyone else.

I’m so terrible… I bought a tiny amount of shares just for fun at 0.66 last year… I’m still up even after this drop!
Although I don’t expect them to turn it around, I think something drastic will need to happen for them to continue for the long term.

Anyone with any views on the recent rise??

It’s one of the various FTSE 100 stocks whose share price rose because of the optimism today.

Traders were bullish on stocks because some progress had been made in relation to a possible treatment for Covid-19 (remdesivir, again).

It’s still a business for which Covid and the oil price continue to create issues.

Working capital outflows will continue and it will have bad debt as business customers defer payments. The numbers don’t look great.

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Correct. I work there, our Business DD cancellations have increased tenfold since the lockdown, plenty of teams being redeployed to chase debt.

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Big news coming in the morning…

I used to work there, shifted to a competitor supplier just before they closed sites and made redundancies. What site do you work at? Is shell / BP taking over the Bgas arm of centrica?

Lo and behold.

Share price is 4% down this morning. These news can help it turn around and go up though.

I’m based in the midlands - doesn’t look like we’re being bought out. 5,000 job cuts, including 18 of the 42 senior leaders that run the entire business (not sure if that part is in the news).

Very true - the business has slowly been streamlining itself for a number of years. Parts of it are very bloated, and the amount of red tape to get anything done thats worthwhile is crazy.

One of the reasons in the video conference this morning - ‘to ensure we stop spending most of our time doing business with other colleagues, and spend more time doing business with our customers’ - think this is a very fair point.

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Every company I’ve been with, I’ve always thought this. Sometimes, when bored at some meeting with senior staff that I’m mandated to attend, I do a quick mental calculation of the salaries in the room of how much the meeting is actually costing, and it’s always astronomical.