British Gas profits jump thanks to cold winter

<p>British Gas has reported a rise in profits thanks to the cold weather.</p>

British Gas has recorded a rise in profits thanks to the cold winter, which saw households turning up their thermostats to keep the chilly temperatures at bay.

Despite this good news, Centrica – which owns the energy giant – has seen its share price plunge on the London Stock Exchange today (February 27th).

Chief executive Sam Laidlaw told BBC News that the firm's profit margins per household declined, adding that the company had made just under £50 profit per customer household.

Centrica reported an adjusted operating profit of £2.7 billion for last year, which is a rise of 14 per cent compared to 2011, while British Gas posted profits from its residential energy supply arm of £606 million, which is an 11 per cent jump from the previous year.

The organisation also announced that British Gas managing director Phil Bentley is stepping down.

At 10:25 GMT, shares in Centrica tumbled by 1.4 per cent on the London Stock Exchange to 344.00p per unit.

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