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Centrica Extends Shareholder Cash Return Program and Reports First-Half Earnings
Key Highlights
- Centrica to extend its cash return program to shareholders
- Company seeks support for infrastructure investments in the UK, including Sizewell C nuclear power station
- First-half adjusted operating profit declines, with retail arm British Gas seeing lower profits due to reduced energy prices
Detailed Reporting
British energy giant Centrica Plc has announced plans to extend its program of returning cash to shareholders. This move comes as the company seeks to build support for infrastructure investments in the UK, including the Sizewell C nuclear power station.
Centrica's first-half results for 2024 show a decline in adjusted operating profit. The company's retail arm, British Gas, experienced lower profits due to reduced energy prices.
Despite these challenges, Centrica remains the largest electricity and gas supplier to British households, serving over 10 million customers. The company's chief executive, Chris O'Shea, has demonstrated his commitment to shareholders by waiving a £11 million bonus last year.
Keep an eye out for our upcoming article providing further analysis and insights into Centrica's latest developments.
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