British Gas annouce massive profits
Congratulations to British Gas, on the day that they announce a rise in profits during 2010 of a whopping 24% to £742 million, just two months after hiking up their domestic energy prices by 7% - that’s some sensational work and no mistake.
British Gas blamed that recent price rise on the rise in wholesale costs, but made most of their money during the big freeze at the beginning of 2010. The company didn’t attract a huge amount of new customers, with an increase of just 1.7% in their customer base, but every single customer did their bit to work towards such a phenomenal annual profit. Parent company Centrica achieved pre-tax operating profits of £2.4 billion, up an amazing 29%.
It’s astonishing stuff, and we suggest that British Gas customers celebrate by opening the windows and turning all the heating right up today. Those who are struggling to pay their bills should try and resist the urge to stick their heads in the gas oven.