Centrica Announces Significant Profit Increase and Dividend Boost

Centrica's profits soar, driven by its retail energy unit, prompting calls for a 'social tariff' to aid vulnerable customers.

Centrica's retail energy unit, primarily British Gas, reported a substantial profit increase from £94 million in 2022 to £799 million in 2023.
The company raised its full-year dividend by 33% to 4 pence per share, returning £800 million to shareholders.
CEO Chris O'Shea advocates for a 'social tariff' to help the poorest customers, amidst rising profits and high energy bills.
Centrica's adjusted operating profit fell to £2.75 billion, but exceeded analyst expectations.
The company plans to continue its share buyback program, with £727 million already bought out of a planned £1 billion.