British Gas Profits Fall By 34%

British Gas profits dropped by 34% to £379 million last year according to its new owner Centrica.

The energy giant said the huge rise in the cost of wholesale gas had cut profits by 34% from the previous year, when it made £571 million.

Centrica said it made a total operating profit of £1.94bn in the year to 31 December, down 0.4% on the previous year.


Centrica Chief Executive Sam Laidlaw said: "Looking forward we plan to create around 1,500 new skilled, mainly 'green collar', roles across British Gas to help meet our customers’ desire to make their homes more energy efficient. Whilst the overall economic climate in 2009 is clearly very challenging, the operational and structural progress we have made over the last two years has strengthened the Group and positioned us well to continue to invest for our customers and our shareholders."

(CD/JM)