Plus   Neg

Centrica Plc Issues Trading Update - Quick Facts

Centrica plc (CNA.L) has decided to withdraw its 2020 Group AOCF guidance. The Group said the impact that reduced energy demand and weaker economic conditions will have on 2020 AOCF and adjusted earnings is difficult to quantify precisely. The Group noted that it still expects Upstream division to be no worse than free cash flow neutral in 2020.

With mitigating actions, total Group capital expenditure including E&P is now expected to be around 600 million pounds, compared to around 800 million pounds at the time of the preliminary results. The Board has decided to cancel the 2019 final dividend payment of 3.5 pence per share, due to be paid in June 2020.

The Group noted that it will not be possible to hold the AGM as intended on 11 May. The AGM will be held as a closed meeting and shareholders will not be able to attend in person. The Group requested shareholders to exercise their votes by submitting proxy forms either electronically or by post.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Latam Airlines Group SA, one of the largest air carrier in South America, has filed for bankruptcy protection in New York amid the ongoing Covid-19 pandemic, which has grounded flights worldwide. This Chapter 11 filing allows Latam to work with its creditors and other stakeholders to reduce its debt,... Pizza Hut said it is giving away 500,000 free pizzas to 2020 graduates in the Unites States. The pizza chain, owned by Yum! Brands, offers one free medium 1-topping pizza to all diploma/degree earning individuals until supplies last. The company is partnering with America's dairy farmers for the offer, which can be claimed until Thursday and redeemed until June 4. Merck & Co. Inc. on Tuesday announced deals, including an acquisition and two collaborations that will enable the U.S. drugmaker to join the race to develop coronavirus vaccines and drugs. Shares of Merck were rising almost 4 percent in the pre-market. Merck said it has agreed to acquire privately-held Themis, an Austria-based company focused on vaccines and immune-modulation therapies.
Follow RTT