British Gas profits leap from £72m to £751m in a year

The sharp increase in British Gas profits pushed Centrica’s pre-tax profit to £6.5bn for 2023, compared with a loss of £240m a year earlier. Photograph: Neil Hall/EPA

Annual profits at British Gas have soared more than tenfold after it tried to recoup costs from the energy crisis, while its parent company announced another £144m payout to shareholders.

Centrica released figures on Thursday showing that British Gas, which supplies energy to UK households and businesses, showed its profits jumped to £751m in 2023, up from £72m a year earlier.