Jul 30, 2019

Centrica: the gas man goeth

Iain Conn, boss of British Gas owner Centrica, has announced a dividend cut and his own departure. To be fair, Mr Conn will continue fronting Centrica for a while yet. Centrica made a pre-tax loss of £446m in the first half, compared with a £704m profit last time. Centrica's problems include an energy price cap, weather, gyrating gas prices and angry mobs. Pressure on Centrica to spin off a North American division may mount when the upstream business has gone.

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