UK energy company Centrica PLC 1H net profit down 89 pct; operating profit down 5 pct

Centrica PLC 1H net profit down 89 pct

LONDON — British energy company Centrica PLC said Thursday that net profit fell by 89 percent in the first half compared to a year earlier, when profit was boosted by a large one-time gain.

For the six months to June 30, Centrica reported a net profit of 202 million pounds ($332 million) compared to 1.8 billion pounds a year earlier.

Operating profit at the company, whose operations include British Gas, was down 5 percent to 936 million pounds.

Revenue rose 20 percent to 11.66 billion pounds.

The company posted exceptional pretax charges of 194 million pounds in the first half, including 139 million pounds for the termination of an energy contract, while a year ago profit was boosted by a one-time gain of 1.4 billion pounds.

On the Net: www.centrica.com