Statement re Direct Energy Investor Day and Pre-Close Trading Statement
28 June 2011
CENTRICA PLC – DIRECT ENERGY INVESTOR DAY AND PRE-CLOSE TRADING
Centrica plc will today host an investor day for institutional investors
and analysts in London, focusing on its North American business.
The presentation will commence at 09:00 BST and will be webcast at http://www.centrica.com/investors
and can be accessed via conference call on +44 (0)203 059 5754.
Presentation materials will be available from 08:30 BST.
The Group also announces today that it continues to trade in line with
the guidance provided in its Interim Management Statement on 9 May 2011.
Group earnings for the first half of 2011 are expected to be lower than
in 2010. Downstream UK residential energy operating profit is expected
to be around half the level achieved in the first half of 2010,
reflecting the impact of higher commodity and non-commodity costs, and
lower consumption. This is expected to be partially offset by higher
operating profit in the Upstream UK and North American businesses, but
upstream earnings in the UK are now more highly taxed, and profits from
our gas storage business will be significantly lower. However, as stated
in the Interim Management Statement, full year earnings are expected to
show year on year growth, subject to the usual variables, particularly
retail margin recovery and weather.
Centrica’s interim results for the first six months of 2011 are due to
be released on 28 July 2011.
Centrica Investor Relations: 01753 494900