at annual service told boiler was dirty - is this a way to be ripped off

[Millsy 82]

That was a one off due to the fall in wholesale gas prices being out of step with consumer contract terms.

They've lost about a million customers over the past three years, their share price has dropped from about 300p to 90p, they've shed about 10'000 staff, Ian Conn their COE has just resigned. Doesn't sound like they lost something like £2.2bn in 2017 and £300m this year. Doesn't really sound like a business that thriving.

The cap on energy prices has really hurt them.

Google it and you will find that year on year they are making huge profits. I did put another link up but it didnt work.

 

[OffshoreGas]

Google it and you will find that year on year they are making huge profits. I did put another link up but it didnt work.

Recent profits have included disposal of various assets in an effort to survive, Centrica is not a thriving business, the share price doesn't lie.

 

[Millsy 82]

I would be happy making £300m profit last year and I bet they still make a profit of a couple of hundred million this year. So I fail to see how making even a £1m profit isn't a thriving business!

People are fed up with being ripped off and seeing the likes of bg edf etc making billions profit each year so are now switching more and more but it still doesnt mean that they wont make large profits.

 

[OffshoreGas]

I would be happy making £300m profit last year and I bet they still make a profit of a couple of hundred million this year. So I fail to see how making even a £1m profit isn't a thriving business!

People are fed up with being ripped off and seeing the likes of bg edf etc making billions profit each year so are now switching more and more but it still doesnt mean that they wont make large profits.

Its equivalent to you selling your house, car and van and then pretending you've made great money that year. It's OK when you do it but those assets are gone.

They turned over about £29bn in 2018 and made a profit of £242m, whats that? 8%? And even that's after selling the family silver. Doesn't really seem excessive.

I bet there's not many self employed people on here making a profit of less than 30% and you wouldn't call them greedy would you?

Their reward is proportional to their risk.

 

[doitmyself]

They turned over about £29bn in 2018 and made a profit of £242m, whats that? 8%? And even that's after selling the family silver. Doesn't really seem excessive.

It's not 8% but 0.8%. No wonder the share price is sliding.

 

[OffshoreGas]

It's not 8% but 0.8%. No wonder the share price is sliding.

You are indeed correct, my brain doesn't function that well at the best of times.

 

[centralheatking]

Centrica are actively trying to sell BG esp. the servicing business
but there are many problems from the pension fund to the service contract not being viable as a stand alone business centralheatking

 

[OffshoreGas]

Centrica are actively trying to sell BG esp. the servicing business
but there are many problems from the pension fund to the service contract not being viable as a stand alone business centralheatking

It wouldn't be the first company to charge over the odds and still make a loss due to mismanagement.

Its a fairly well accepted maxim that the bigger the company the less efficient it becomes.

 

[doitmyself]

They turned over about £29bn in 2018 and made a profit of £242m ...

I've just looked at their 2018 accounts. I can see the £29bn, but can't find the £242m anywhere. Where did you get it from?

Further on in the accounts it show the UK revenue of £8,392m and an operating profit of £668m. This gives a return of 6.77%.

 

[OffshoreGas]

I've just looked at their 2018 accounts. I can see the £29bn, but can't find the £242m anywhere. Where did you get it from?

Further on in the accounts it show the UK revenue of £8,392m and an operating profit of £668m. This gives a return of 6.77%.

£242m came from the net profit for 2018 on Hargreves Lansdown. This may possibly exclude one offs.