Centrica’s profits triple to £3.3 Billion


For perspective, only 72m of those profits came from their British Gas energy supply business - about 2.2% of the overall profit.

Should still be made to pay their due in taxes though.
 
Someone will be along soon to tell us it’s got nowt to do with profiteering.

Disgraceful.

Is there any other explanation for this situation other than sheer greed? It feels like it’s a cartel situation tbh.
For perspective, only 72m of those profits came from their British Gas energy supply business - about 2.2% of the overall profit.

Should still be made to pay their due in taxes though.

Where was the bulk of the profit made marra?
 
Triple compared a year we were still in the pandemic. British gas profits fell.

Shameless headline bullshit.
losses the previous 2 years. triple compared to 2018. 6x 2017. bullshit? i know its the production side not the supply business and its worldwide, but its not right they are making 3x 4x 5x the profits purely because the market has gone crazy.
Centrica plc (CNA) Ord 6,14/81p Statements & Reports
 
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I don't really understand the gas or electricity market, but I don't get why any country can't just generate it's own electric and sell it for cost price plus a bit of profit for future investment etc. 🤔
 
If the directors approved a policy of selling gas below market price, they would be sacked and then probably sued by the company for breach of their duties under the Companies Act.

Talk of "profiteering" and similar phrases is just playing to the mob. There is no realistic legal way that a large listed company could sell its main product at significantly below the price achievable in an accessible, liquid market, however politically expedient that might be. There is an unrealistic legal route - shareholder ratification - which just isn't going to happen.

If there is a balance be redressed, it has to be done by government. There is no other way.
 

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