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The Guardian - UK
The Guardian - UK
Business
Alex Lawson Energy correspondent

British Gas owner forecasts eightfold rise in earnings amid soaring gas prices

British Gas Centrica Gas Prices Ukraine United Kingdom
British Gas Smart meter in a kitchen besides a red kettle
Centrica puts earnings a share at more than 30p this financial year, an upgrade on City expectations of 23.6p-26.6p a share; way above the 4p a share generated in 2021. Photograph: Simon Dack/Alamy

The owner of British Gas, Centrica, expects a near eightfold increase in its earnings this year due to its balance sheet being boosted by soaring wholesale gas prices after Russia’s invasion of Ukraine.

The FTSE 100 group said on Thursday it expected earnings a share to be more than 30p this financial year. That represents an upgrade on City expectations of 23.6p to 26.6p a share, far outstripping the 4p a share generated in 2021, when pre-tax profits hit £761m.

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