They do, itās worth doing some research as they make the majority of their profit from their other business.
Welcome to the community @Vntrader 
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 itās 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 youāve 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 donāt have any information the market doesnāt so itās like to have been accounted for in the current price.
The other thing to be aware of is that most of Centricaās profits donāt come from British Gad but from their other operations. As @Eden mentioned itās 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 EDFās UK nuclear plants.
Down ~18% today after announcing a Ā£1.1B annual loss. Largely due to write downs on the parts of the business theyāre 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.
Iām so terribleā¦ I bought a tiny amount of shares just for fun at 0.66 last yearā¦ Iām still up even after this drop!
Although I donāt 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??
Itās 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).
Itās 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 donāt 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 morningā¦
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.
Iām based in the midlands - doesnāt look like weāre 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 - āto ensure we stop spending most of our time doing business with other colleagues, and spend more time doing business with our customersā - think this is a very fair point.
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Every company Iāve been with, Iāve always thought this. Sometimes, when bored at some meeting with senior staff that Iām mandated to attend, I do a quick mental calculation of the salaries in the room of how much the meeting is actually costing, and itās always astronomical.
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