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Centrica Posts FY Profit

Centrica plc. (CNA.L) reported that its profit attributable to shareholders for the year ended 31 December 2020 was 41 million pounds or 0.7 pence per share, compared to a loss of 1.02 billion pounds or 17.8 pence per share in the previous year.

Loss from continuing operations before taxation narrowed to 577 million pounds from 1.03 billion pounds in the prior year.

Adjusted earnings per basis share declined 11% to 6.5 pence from 7.3 pence in the previous year.

Group revenue was 12.25 billion pounds, down from 12.99 billion pounds in the previous year.

Centrica said that it will accelerate its commitment to be net zero by 2045, five years ahead of its previous target and the UK deadline. The company is also announcing a new commitment to helping its customers be net zero by 2050.

The company is also working with customers to accelerate electric vehicle adoption and has upskilled many of its Smart Energy Experts to fit EV charging points.

Centrica aims to install 23,000 EV charging points this year across its residential, small and large business customer base.

As part of its commitment to be a net zero business by 2045, the company has brought forward its commitment to electrifying its 12,000-strong fleet of vehicles from 2030 to 2025 and last week made the largest commercial battery electric vehicle order in the UK to date.

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