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Centrica FY19 Adj. Profit Declines; Adj. Revenue Down 2% - Quick Facts

Centrica plc (CNA.L) reported a pretax loss of 1.1 billion pounds for the year ended 31 December 2019 compared to profit of 575 million pounds, previous year. Loss per share was 17.8 pence compared to profit of 3.2 pence. Adjusted profit before tax declined to 645 million pounds from 1.1 billion pounds. Adjusted EPS declined by 35% to 7.3 pence.

Fiscal 2019 group revenue included in business performance declined 2% to 26.8 billion pounds. Gross segment revenue, which includes revenue generated from the sale of products and services between segments, was down 3% to 28.0 billion pounds.

Iain Conn, Chief Executive, said: "2019 operating profit and earnings were materially impacted by a challenging environment, most significantly the implementation of the UK default tariff cap and falling natural gas prices. Looking to 2020, we expect to deliver earnings momentum relative to 2019 from our core customer divisions, but Upstream earnings are likely to be impacted by the lower commodity price environment."

In addition to the interim dividend of 1.5 pence per share, the proposed final dividend is 3.5 pence, giving a total full year dividend of 5.0 pence.

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