Centrica Publishes Half-Year Results In Line With Expectations and Reaffirms 2017 Targets
We are reaffirming our narrow moat and stable moat trend ratings, along with our GBX 250 per share fair value estimate, after Centrica released half-year results in line with our expectations while reaffirming its full-year guidance. Adjusted operating profit decreased by 4% to GBP 816 million. Adjusted EPS came in at GBX 8.2, down by 16% due to the impact of the capital increase in May 2016 and higher interest cost on the back of lower capitalised costs. Net debt decreased by 22% to GBP 2.9 bil...Centrica is an energy and services company. Co.'s segment are: Energy Supply and Services, which supplies gas and electricity in the U.K. and North America; Connected Home, which supplies energy solutions and technologies to residential customers; Distributed Energy and Power, which supplies energy solutions, generation and technologies to commercial and industrial customers; Energy Marketing and Trading, which trades and optimizes energy; Exploration and Production, which produces and processes gas and oil and develops new fields; Central Power Generation, which generates power from combined cycle gas turbines, wind and nuclear assets; and Centrica Storage, gas storage in the U.K.
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