WINDSOR (dpa-AFX) - Shares of Centrica plc (CNA.L) were gaining around 4 percent in the early morning trading in London after the energy and services company Thursday said it currently expects to report 2020 full year adjusted earnings per share from continuing and discontinued operations ahead of current market consensus.
As of January 13, the average 2020 adjusted earnings per share of 16 analyst forecast is 4.8 pence.
In its trading statement, the company reported resilient operational and financial performance in the second half of 2020 against the backdrop of Covid-19.
The significant restructure announced in June remains on track, and trading and optimisation performance continued to be strong, in particular in LNG business.
At the end of 2020, the company had 6.9 million UK energy supply customers and 3.6 million UK services customers, both broadly unchanged since the half year.
The company noted that Covid-19 continued to impact financial performance, but the expected gross impact was lower in the second half than in the first half.
UK business electricity demand was negatively impacted by around 15% in H2 2020 compared to around 30% in Q2 2020.
Looking ahead, the company said it remains cautious as it enters 2021, with the return of tighter Covid-19 restrictions in the UK and Ireland expected to put continued pressure on business energy demand and limit services workload.
Further, the related uncertain economic backdrop increases the potential for additional working capital outflow and higher bad debts.
The company is due to release its 2020 Preliminary Results on February 25.
In London, Centrica shares were trading at 51.40 pence, up 3.69 percent.
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