Centrica Share Discussion Threads

[bookbroker] 10/5/2021 08:17

I think O’Shea is downplaying the facts, we have just had a near four month lockdown, and it has been tough with the disputes, etc over contracts. However this is work in progress, the company is far stronger with an improved balance sheet, smaller but financially stronger. Could it even be a takeover target at this point!

[cleverinvester] 10/5/2021 08:12

Great update onwards and upwards. I was hoping for the Divi re-instated ah well.

[temujiin] 10/5/2021 07:52

Net debt down loads is good Netcurtains, but sadly that is just down to the selling of Direct Energy.

[netcurtains] 10/5/2021 07:43

Temujiin: You could be right or could be net debt down loads.
I'll let the market decide.

[bookbroker] 10/5/2021 07:40

That is mainly because of the most recent lockdown. Hopefully the road ahead is clearer, unless this is a reflection of the real picture in the economy. All looks good seeing folk sitting outside on pavements, but that simply because no one indoors, once the doors open we’ll see who is havin fun.

[farrugia] 10/5/2021 07:37

debt is now manageable that's what counts.

[angeswar530] 10/5/2021 07:31

That doesn’t instil any confidence. I guess any recovery is going to take longer…..

[bookbroker] 10/5/2021 07:30

I think the statement simply emphasises caution, analysts likely more offered more access to detailed information. Clearly the last lockdown has slowed the process of recovery in earnings, but rising energy prices should help this company once business returns to some semblance of normality.

[waldron] 10/5/2021 07:23

10 May 2021

Centrica plc

AGM Trading Update

In advance of Centrica's Annual General Meeting at 11am BST today, the Company is providing an update on its performance and progress.

Chris O'Shea, Group Chief Executive:

"As expected, trading conditions have remained tough in the year to date. However, the modernisation of our Group remains on track and the difficult, but necessary process to move colleagues onto new terms and conditions is now complete. We are pleased that 98% of UK colleagues have accepted the new contracts which will enable us to better serve the needs of our customers. Although the external environment remains uncertain, our tight focus on cash and on fixing the basics across the Group leaves us well placed as we continue the turnaround of our company."

The factors impacting our 2021 outlook remain broadly unchanged since the time of the Preliminary Results in February. Some updates on performance and progress are provided below:

-- Our significant Group restructure is on track and we continue to expect year-on-year operating cost savings of more than GBP100m in 2021.

-- As expected, Covid-19 continues to impact the Company. In Q1 2021, electricity demand from our UK business customers was negatively impacted by around 15%, residential boiler installations were down 11% compared to Q1 2020, and non-essential service visits were postponed in order to protect colleagues and customers from the risks of catching and spreading Covid-19.

-- Bord Gáis Energy's Whitegate power station is now expected to return to service around the end of this year.

-- Group net debt including margin cash at the end of Q1 2021 was GBP0.5bn, down from GBP3.0bn at the start of the year, including the impact of net proceeds from the sale of Direct Energy.

Given the ongoing uncertain outlook, we are still not providing any specific Group earnings or cash flow guidance for 2021. The Company is due to release its 2021 Interim Results on 22 July 2021.

ENDS

[waldron] 10/5/2021 07:19

European markets head for positive open, following global trend higher

Published Mon, May 10 20211:02 AM EDT

Holly Ellyatt
@HollyEllyatt

Key Points

European stocks are expected to open higher on Monday, following positive momentum in other global markets.

London’s FTSE is seen opening 27 points higher at 7,154, Germany’s DAX 56 points higher at 15,438, France’s CAC 40 up 27 points at 6,389 and Italy’s FTSE MIB 100 points higher at 24,483, according to IG.

[wendsworth] 09/5/2021 21:58

AGM commences 11.00hrs tomorrow. There are electronic participation facilities for shareholders. Watch this space ....as they say !

[bookbroker] 09/5/2021 18:10

Raising of price cap should make a material difference to all utility companies in energy sector

[grupo guitarlumber] 09/5/2021 17:45

10-05-2021
Annual General Meeting

[wendsworth] 09/5/2021 14:38

bookbroker: O'shea will be anxious to woo institutionalinvestors.Dividend restoration is a virtual given. Absolutely agree with your turnaround assessment and 100p y/e. share price guesstimate ..could be earlier.Centrica is without doubt a value stock. O'Shea is well aware of the need for a postive forward look. Tomorrow's AGM will prove to be pivotal for investors.

[bookbroker] 09/5/2021 10:51

Huge turnaround going on here, balance sheet almost totally repaired, pension deficit negligible, and real possibility of at least a quid a share by year end. If they get a decent price for Spirit, manage to negotiate a use for Rough with UK Govt. then it will look great as an investment. The 20% stake in nuclear is not really worth discussing as contribution largely irrelevant, but an exit would be received positively nonetheless.

[korvet] 08/5/2021 21:53

I'm hoping for a touch more, I wonder what is the attitude of the big pension funds and institutional investor's? They can only go so long without income and we've had a long period of suppressed incomes. I would think they would be pushing for a return to a dividend even if it's a small one. K

[wendsworth] 08/5/2021 17:15

hamhamham1 : Aint that the truth. Just bought my home insurance from BG! O'Shea is only too well aware of what is reqired to enhance shareholder value. ..the aim being to ultimately restore the company's reputation for dividends and it's FTSE status. I see a positive trading update and AGM on Monday.

[hamhamham1] 08/5/2021 08:15

What people forget is that Centrica is so much more than a retail gas supplier...

[sarkasm] 07/5/2021 16:55

57.86 +1.62%

[wendsworth] 07/5/2021 16:42

bookbroker, hamhamham1, time2retire and Ant-Eater: Clearly kindred spirits when it comes to CNA' current share price A positive trading update , AGM and specific commitment to restore the dividend would surely see a re-rating in the share price north of 70p.

[ant_eater] 07/5/2021 12:46

THATS IT LITTLE ANTS.......THE ANT EATER SEES VALUE HERE....TIME TO MUNCH UP THROUGH THE 60S AND INTO TRIPLE DIGITS.....LONG TERM THIS ONE.....

[time 2 retire] 07/5/2021 12:35

CNA trading update on Monday, hopefully we'll move through the 60p barrier next week.

[hamhamham1] 07/5/2021 08:55

Give it a year it two and this will be back to paying 10p+ divi per year IMO.
Which is 15-20% return compared to todays share price levels.
Happy holder.

[bookbroker] 06/5/2021 16:06

That and hopefully announcing the restart of the sale process for their share of Spirit, maybe even expressions of interest. Shareholders have suffered for many years of diminishing returns, a change in fortune is long overdue.