UPDATE 1-British utility Centrica confirms full-year targets, lifts efficiency goals [Reuters]
CENTRICA PLC S/ADR (CPYYY)
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Source: Reuters
UPDATE 1-British utility Centrica confirms full-year targets, lifts efficiency goals - Reuters 2 Min Read (Updates with details from trading update, background, shares) By Susanna Twidale LONDON, Nov 21 (Reuters) - British utility Centrica is on track to meet its full-year cash flow and earnings targets and on Thursday raised its expected efficiency savings by 50 million pounds ($65 million). Adjusted operating cash flow is expected to be in the lower half of its targeted 1.8-2.0 billion pound range, it said. Centrica said its hedging strategy had insulated it from lower European wholesale gas prices, while a strong performance from its North American business helped to offset lower output from Britain’s nuclear fleet, in which it owns a 20% stake. The company has been shifting towards consumer energy services and away from oil and gas exploration and large-scale power generation, as part of a move away from fossil fuels. It has also launched the sale of exploration business Spirit En
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