BREAKING NEWS

BREAKING NEWS

Centrica says energy bill price cap to hurt 2019 results

Centrica says energy bill price cap to hurt 2019 results
FILE PHOTO: Electricity pylons are seen in London, Britain August 1, 2017. REUTERS/Neil Hall/File Photo -
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NEIL HALL(Reuters)
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(Reuters) - Britain's largest energy supplier Centrica Plc on Thursday reported higher 2018 profit, but lost consumers during the year and warned that a national price cap on energy bills would hit its 2019 financial performance.

The company also said it would sell Clockwork Inc, its North American franchisee home services business, for $300 million after a slower than expected recovery in its North America business in 2018.

Total consumer account holdings fell 1 percent in 2018, the company said in a statement, although adjusted operating profit rose 12 percent to 1.39 billion pounds, bolstered by higher commodity prices.

(Reporting by Devika Syamnath in Bengaluru; Editing by Bernard Orr)

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