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26 July 2012: Profits rise at British Gas
British Gas owner Centrica has today announced that profits have risen by 23% to £345 million. The profits show a healthy increase in revenue for the corporation.
The figures published today show that gas revenues for the corporation were up by 21% to £3.2 billion although consumption was only up 3.5%. For electricity profits increased by 10% to £1.6 billion, this is in spite of electricity consumption falling by 0.1%.
Commenting on the news, Mark Todd, Director of Energyhelpline.com, said: “British Gas is clearly doing very well in terms of profitability and this is could be partly down to the UK’s chilly spring and early summer, which has undoubtedly pushed up energy consumption.
“We hope that these healthy profits will mean that British Gas won’t announce any price rises for the rest of this year. In fact, what would be a great bonus for cash-strapped customers would be aprice cut to thank them for their loyalty.
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