Centrica Share Discussion Threads

[excellance] 31/7/2018 08:17

I don't think the market was very impressed with the HY numbers.

[susiebe] 31/7/2018 08:12

nor mine.In fact will add if drops anymore.I felt the report read well.Patience will get back to 200 + imo

[careful] 31/7/2018 08:12

The profit should not offend regulator.

Yield just confirmed approaching 8%.
PE looks it will be about 10-12.
This is during a perfect storm.

[masterblaster] 31/7/2018 08:11

A familiar trading pattern on a results day imo will end day above £1.50

[csalvage] 31/7/2018 08:11

I buy some more can't see the divi being cut near term.

[losses] 31/7/2018 08:10

Ready to buy back in cheaper...

[losses] 31/7/2018 08:10

Glad sold 50% yesterday..

[masterblaster] 31/7/2018 08:09

They are not getting mine

[eeza] 31/7/2018 08:07

MM's trying to shake out weak hands.

[careful] 31/7/2018 08:05

1% of about 13m is ok.
the worst is over for customer losses.
too many small competitors going bust.

[kulvinder] 31/7/2018 07:43

0n these news reports they always mention the people that left, why not also balance the argument by mention how many joined over the same period?

[eeza] 31/7/2018 07:42

BBC news

"Centrica halves customer churn

British Gas-owner Centrica says that it has halved the rate of losses of customers this year.

"Overall globally we lost 226,000 customer accounts last year, that's a bit less than 1%. Our goal is to stabilise the customer account number and then grow it," Centrica's chief executive Iain Conn has told the BBC.

He added that since 2015, the company's complaint levels have dropped by over 50%.
Article share tools


Posted at 7:24
Centrica names new finance chief"

[justiceforthemany] 31/7/2018 07:40

Sale of nuclear stake is close. Talks commenced and first sales expected in September.

[justiceforthemany] 31/7/2018 07:39

EBITDA rises 3%

[jpjohn1] 31/7/2018 07:37

BBC news just now, 340,000 left us and profits down 20% . Wait to see how the market reacts ?

[skinny] 31/7/2018 07:23

Hmmmm -

down is mentioned 43 times, up 46 times.

"The Group’s principal risks and uncertainties are largely unchanged from those set out in its 2017 Annual Report. Details of how the Group has managed financial risks such as liquidity and credit risk are set out in note 18. Details on the Group’s capital management processes are provided under sources of finance in note 12(a)."

It will be interesting to see what the market thinks...

[careful] 31/7/2018 07:23

What will the market make of the h1 results?

A perfect storm but divi held, EPS, cash flow, debt seem ok.
Customer losses small.

The share price reflects everything.
seems Conn is heading in the right direction, but a tough battle.

[neilyb675] 31/7/2018 07:21

An interim dividend of 3.6p per share, in line with last year and consistent with our policy of paying 30% of the prior year’s full year dividend as an interim dividend the following year, will be paid on 22 November 2018 to shareholders on the register on 11 October 2018.

[micos] 31/7/2018 07:18

Interim dividend 3.6p

[skinny] 31/7/2018 07:01

IAIN CONN, GROUP CHIEF EXECUTIVE

“In a first half in which we experienced rapidly rising commodity prices, extreme weather patterns, continued competitive pressures and ongoing political and regulatory uncertainty, Centrica demonstrated resilience from its portfolio of businesses. We delivered stable gross margin and EBITDA relative to 2017, and adjusted operating cash flow of £1.1bn. We are on track to achieve our full year Group financial targets and expect to maintain the full year dividend per share at its current level, subject to delivering adjusted operating cash flow and net debt in line with our target ranges.

We continue to make progress on implementing our strategy. We have developed new propositions and delivery capabilities in both customer divisions and our cost efficiency programme is on track. Although we are awaiting the final outcome of regulation to impose a temporary cap on all default tariffs for residential customers in the UK, we have plans in place to manage this. Our focus remains on performance delivery and financial discipline.”

H1 PERFORMANCE AND FULL YEAR OUTLOOK

Stable adjusted gross margin and EBITDA relative to H1 2017. Adjusted operating cash flow of £1.1bn, down 11%, including impact of working capital outflows due to cold weather and wholesale commodity price increases.
Full year adjusted operating cash flow currently expected to be higher than 2017, within the targeted £2.1-£2.3bn range, and net debt expected to be within the targeted £2.5-£3bn range for 2018.
Full year dividend per share expected to be maintained at 12.0p, subject to delivering adjusted operating cash flow and net debt in line with our target ranges.
H1 2018 adjusted operating profit down 4%. Profit recovery in E&P from higher commodity prices and Rough field production, largely offsetting lower profit in the customer-facing divisions.
H1 2018 adjusted EPS down 22% to 6.4p, impacted by a higher adjusted effective tax rate of 39%.
Centrica Consumer adjusted operating profit down 20%. Rising wholesale energy costs have put pressure on UK energy supply margins, and extreme cold weather resulted in additional costs in UK services. Consumer account holdings down 1% in H1 2018, but rate of losses slowed compared to 2017. UK services accounts stable.
Centrica Business adjusted operating profit down 57%. Strong underlying performance in EM&T but losses as expected from legacy gas contracts reduced overall EM&T profit. Good recovery in UK Business vs H2 2017 and strong order-book growth in DE&P. Continued weakness in North America Business power retail book as previously signalled. North America Business forward book higher for 2019.
Awaiting final regulations imposing a temporary default tariff cap in the UK. Continue to engage constructively while implementing mitigating actions.
PROGRESS ON IMPLEMENTING THE STRATEGY

Resilience from Centrica’s diverse portfolio of businesses. Focus on performance delivery and financial discipline.
Demonstrating new sources of gross margin growth. Improved customer segmentation, enhanced propositions, focus on customer lifetime value. Connected Home gross revenue up 31% and DE&P order book up 47% compared to H1 2017.
Continued strong cost efficiency delivery with £92m of efficiencies delivered in H1 2018. On track to deliver £200m of savings for the full year, taking cumulative annual savings relative to 2015 to around £900m.
Spirit Energy successfully established, providing cash flow diversity and balance sheet strength for the Group.

more.....

[jpjohn1] 31/7/2018 06:48

It's early to guess where the FT is going to start, at the moment it looks flat about -3

[jpjohn1] 31/7/2018 06:46

Yes losses, sometimes it's always knowing what to do for the best, hoping for good results and start heading back to the 160s again

[losses] 31/7/2018 00:02

I have reduced 50% today just in case results are not good..

[eeza] 30/7/2018 22:24

Morgan Stanley's view (US market) regarding the rotation underway from Growth/Momentum to Defensive & we will probably follow.

." Nevertheless, he adds somewhat gleefully, "since our upgrade of Utilities on June 18th, defensive sectors have meaningfully outperformed."