Business
AGM Statement
AGM Statement.
About this update from Centrica Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. Not for release, publication or distribution in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of relevant laws of such jurisdiction.\n \n8 May 2025\nCentrica plc\nAGM Statement\nCentrica plc (the \"Company\") will hold its Annual General Meeting today at 10.30am at The Edwardian Manchester, Free Trade Hall, Peter Street, Manchester, M2 5GP.\nAhead of the Company's 2025 Interim Results, which will be released on the 24 July 2025, the Company provides the following update on its trading performance.\n· Reaffirming 2025 full year adjusted operating profit guidance ranges1 and the intention to increase the full year 2025 dividend per share to 5.5 pence. The Company notes:\n· British Gas Residential Energy has been impacted by warmer than normal weather in Q2 but is still expected to be within its medium-term sustainable adjusted operating profit range in 2025.\n· Residential and business energy supply businesses have seen organic growth in customer numbers year to date. \n· Centrica Energy is currently expected to be towards the bottom of its medium-term sustainable adjusted operating profit range for the year, with profitability heavily weighted to the second half. This is primarily due to more challenging market conditions in the gas & power trading segment, while our LNG and RETO businesses continue to perform strongly.\n· Centrica Energy Storage+ 2025 adjusted operating loss is now expected to be at the higher end of the indicated range of £50 million - £100 million. Constructive discussions are ongoing with the UK Government to secure a regulatory support mechanism that unlocks £2 billion of investment to increase Rough's capacity and ultimately convert it into a hydrogen-ready storage facility.\n· The usual uncertainties remain for the balance of the year, including weather, commodity prices, regulation and government policy. As is normal, Group profitability is expected to be weighted to the first half of the year. \n· We are closely monitoring the impact of potential global trade restrictions and will continue to do so. Given our diversified supply chains across key proje...