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NEWS

Centrica names O’Brien as new CFO, raises earnings forecast

(Reuters) -British Gas owner Centrica on Thursday named Russell O’Brien as its chief financial officer, and raised its full-year earnings forecast following robust volumes from its electricity generation and gas production activities.

The group said O’Brien’s appointment will be effective March 1 and the current finance chief Kate Ringrose will step down at the end of February after two years in the role.

In a separate statement, Centrica said it expects its full-year adjusted earnings to be above 30 pence per share. It had previously forecast to report annual earnings per share at the top end of an outlook range of 15.1 pence to 26 pence.

The company also said it expects 2022 closing net cash to be above 1 billion pounds ($1.21 billion).

($1 = 0.8237 pounds)

(Reporting by Muhammed Husain in Bengaluru; editing by Uttaresh.V)

 

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