Centrica Expects to Meet Fiscal Year Group Targets Despite Challenges

   By Oliver Griffin

Centrica PLC (CNA.LN) on Thursday said that it expects to achieve its group targets for 2018, including maintaining its full-year dividend at 12 pence a share, despite a number of recent challenges.

The FTSE-100 utilities company, which owns British Gas, said it expects adjusted operating cash flow in a range of 2.1 billion-2.3 billion pounds ($2.7 billion-$2.9 billion) for the year.

The company also expects adjusted earnings per share for the year of around 11.5 pence. This is lower than the reported adjusted earnings per share in 2017, which were 12.6 pence.

Centrica said forecast full-year production at Spirit Energy--part of its exploration and production division--has fallen to around 47.5 million barrels of oil equivalent, down from 50 million barrels at the time of the interim results.

Performance in its nuclear division has taken a hit from extended inspections and outages at the Hunterston B and Dungeness B power stations. Centrica said its share of expected full-year nuclear output has been knocked by around 200 gigawatts since the interim results.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

November 22, 2018 02:44 ET (07:44 GMT)

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