- Adjusted operating profit was flat for the year.
- Higher demand for gas during cold winter offset by Covid-19 and industrial actions.
Centrica (CAN) is continuing its slow and painful rebuild. Its balance sheet looks a bit healthier now with net debt down to £0.1bn from £3.0bn in H1 2020 thanks to the £2.3bn generated from the sale of Direct Energy. The removal of the interest payment drag should ease some burden but the loss of over 144,000 customers proves there is still a lot of work to do.