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TOP NEWS: British Gas owner Centrica lifts outlook; names O'Brien CFO

12th Jan 2023 09:02

(Alliance News) - Centrica PLC on Thursday raised its outlook on a "strong operational performance" recently, and it appointed a former Shell PLC treasurer as its new chief financial officer from March.

The British Gas owner now expects to report 2022 adjusted earnings per share of above 30 pence. In November, it predicted an adjusted EPS at the top end of a 15.1p to 26.0p sell-side analyst range. Adjusted EPS from continuing operations in 2021 amounted to just 4.1p.

"Infrastructure asset availability and volumes have remained good, and we delivered incrementally strong optimisation performance," Centrica said.

Meanwhile, the company named Russell O'Brien as CFO, replacing Kate Ringrose from March 1. Ringrose steps down from the post at the end of February but is expected will remain with Centrica until the end of 2023 "after an orderly transition". O'Brien was most recently treasurer at Shell. He also held a "number of senior chief financial officer roles" at the oil major, Centrica added.

Centrica expects to release its 2022 results on February 16.

Centrica shares were 5.1% higher at 96.52 pence each in London on Thursday morning.

By Tom Budszus, Alliance News reporter

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