This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7534421.stm

The article has changed 17 times. There is an RSS feed of changes available.

Version 0 Version 1
Centrica hit by high energy costs Centrica hit by high energy costs
(about 2 hours later)
British Gas owner Centrica has seen half-year operating profits decline 20%, following increases in wholesale gas prices. British Gas owner Centrica has seen operating profits decline 20% in the first six months of the year, following increases in wholesale gas prices.
Profits fell to £992m, but the firm said it would raise its dividend to 3.9 pence a share. Profits fell to £992m from £1.23bn a year earlier.
A day earlier Centrica said it would increase gas bills by 35% in a bid to restore "reasonable profitability". Despite the drop in earnings, Centrica said it would raise its dividend to 3.9 pence a share from 3.35p.
Despite the earnings fall, Centrica said the results were "good" given the tough market conditions. A day earlier Centrica said British Gas would increase gas bills by 35% with immediate effect in a bid to restore "reasonable profitability".
Centrica said the results were "good" given the tough market conditions.
The company's shares added 1.7% in London following the earnings news.
Centrica said it was obliged to raise gas prices in light of dwindling reserves and higher oil prices that had pushed up costs.
Centrica's move to increase prices on Wednesday came after EDF Energy raised prices last week. Analysts say other firms are likely to follow suit.
Phil Bentley, managing director of British Gas told the BBC: "The price of gas for this winter, even though it's fallen a little bit, it's still double what was last year".