Centrica PLC Gross Revenue Rose 54%; Sees 1st Half Headwinds
May 13 2019 - 3:03AM
Dow Jones News
By Anthony O. Goriainoff
British Gas owner Centrica PLC's (CNA.LN) gross revenue rose 54%
in the first four months of 2019, during which it said its
operational performance has been largely in line but that it
expects its first half will be hit by a challenging trading
environment.
The U.K. utility company said Monday that factors such as the
expected negative effect from the U.K. energy supply default tariff
cap--including a one-off 70 million-pound ($81.0 million) hit in
the first quarter--warmer than normal weather, and falling U.K.
natural gas prices will add pressure to the full-year outlook.
The company maintained its full-year guidance on operating cash
flow and net debt, and continues to expect to adjusted operating
cash of GBP1.8 billion to GBP2.0 billion, and net debt of GBP3.0
billion to GBP3.5 billion.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 13, 2019 02:48 ET (06:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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