CENTRICA PLC
PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011
OPERATING AND FINANCIAL OVERVIEW
RESILIENT FINANCIAL PERFORMANCE IN CHALLENGING CONDITIONS
- Adjusted earnings up 3% to £1,333 million; 25.8 pence adjusted basic earnings per share
- British Gas Residential operating profit down 30% to £522 million
- Upstream UK operating profit up 33% to £1,023 million
- North America operating profit up 33% to £312 million
- Adjusted tax charge increased from £761 million to £891 million; 40% effective tax rate
- £500 million cost reduction programme underway to maintain competitiveness and enable growth
DELIVERING INVESTMENT FOR GROWTH
- £1.6 billion invested in 2011; already announced a further £1.4 billion of acquisitions for 2012
- Established long term strategic partnerships with Qatargas and Statoil
- Commitments to secure gas for the UK now total over £50 billion
- Upstream UK gas and oil production expected to increase by over 25% in 2012
- Lincs offshore windfarm on track to produce first power this year
DELIVERING FOR OUR CUSTOMERS
- First of the major energy suppliers to cut prices in 2012
- Cheapest standard electricity of any major supplier at average consumption
- Actual household dual fuel bill £37 lower on average in 2011 at £1,024
- Introduced tariff checker for customers
- Widest eligibility for Warm Home Discount
DELIVERING FOR OUR SHAREHOLDERS
- Full year dividend up 8% to 15.4 pence per share, reflecting long-term growth through investment
