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Centrica (CNA)

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idpickering
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Centrica (CNA)

#202810

Postby idpickering » February 21st, 2019, 7:22 am

Centrica results

Highlights here; viewtopic.php?f=15&t=16379

(Edited 21/2 title changed and centrica results added. Raptor)
Last edited by idpickering on February 21st, 2019, 7:36 am, edited 1 time in total.

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Re: Centrica (CNA)

#202812

Postby idpickering » February 21st, 2019, 7:35 am

Centrica to sell its North American Franchisee Home Services Business, Clockwork, Inc

Centrica plc is to sell Clockwork, Inc., and certain of its affiliates (Clockwork) in North America to Authority Brands, a home services franchise platform backed by funds advised by Apax Partners for $300 million (£230 million). Clockwork consists of over 725 franchise territories, and 10 company-owned stores, and brands including One Hour Heating & Air Conditioning®, Benjamin Franklin Plumbing®, Mister Sparky® electric, BuyMax, Success Academy and SuccessWare 21.



The disposal is in line with Centrica's intention to drive channel and brand rationalisation across the Group, with a continued focus on the efficiency and effectiveness of those channels and Centrica's ability to offer a range of energy and services propositions through them. The Company retains a material home services business in North America and will continue to target growth in its home protection plan and home warranty offers sold under its own brands. Centrica acquired Clockwork in 2010 for $183 million and the sale price represents an attractive multiple of Clockwork's 2018 EBITDA.

https://www.investegate.co.uk/centrica- ... 01016736Q/

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Re: Centrica (CNA)

#203740

Postby monabri » February 25th, 2019, 3:54 pm

Mr Conn (CEO) has put his hand in his pocket.

https://www.londonstockexchange.com/exc ... 80948.html

100,000 Shares at £1.231132 per Share = £123,113.20

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Re: Centrica (CNA)

#212021

Postby idpickering » April 2nd, 2019, 11:46 am

This from TMF, written by Kevin Godbold;

Is Centrica’s 8%-plus dividend yield safe?

Energy and services company Centrica (LSE: CNA), which is known for its ownership of the British Gas brand is sporting a dividend yield in excess of 8%. But the Centrica share price has plunged more than 70% since the autumn of 2013 and the downtrend seems intact, which makes that chunky yield look dangerous, to me. Let’s dig in deeper to gauge whether that fat dividend can survive going forward.


https://www.fool.co.uk/investing/2019/0 ... ield-safe/

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Re: Centrica (CNA)

#213697

Postby monabri » April 8th, 2019, 7:13 pm

"Centrica boss gets 44% pay rise after 'challenging year".

https://www.bbc.co.uk/news/amp/business-47850775

Yep, seems v.reasonable after doing such a great job.

( what are the remuneration group at CNA smoking?)

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Re: Centrica (CNA)

#213736

Postby moorfield » April 8th, 2019, 9:23 pm

Agent Conn's work is done.

He may retire happy and (I misappropriate the famous Peter Cushing line here) instruct his cfo and/or successor: "You may cut when ready."

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Re: Centrica (CNA)

#214609

Postby idpickering » April 12th, 2019, 11:46 am

This from TMF written by Rupert Hargreaves;

The Centrica share price: Is now the time to buy?

A quick glance at the Centrica (LSE: CNA) share price will quickly tell you that this company looks cheap. Shares in the business have lost more than two-thirds of their value over the past five years, and today the stock is dealing at a forward P/E of 11.1 with a dividend yield of 9%.

A dividend yield of that size from one of the UK’s largest utility businesses looks attractive, but Centrica’s track record of value creation (or lack of it) for shareholders is a warning sign. The company has struggled over the past five years as numerous headwinds have buffeted it.

The way I see it, no single key factor has tripped up the business. Net profit has fallen by half since 2013 due to several factors such as the low oil price, which gutted the group’s oil business, the government’s energy price cap, rising competition across the utility sector, rising costs and problems at its nuclear business. These have all chipped away at Centrica’s profitability.


https://www.fool.co.uk/investing/2019/0 ... me-to-buy/

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Re: Centrica (CNA)

#217683

Postby idpickering » April 27th, 2019, 10:23 am

This from TMF, penned by Royston Wild;

4 reasons why I think FTSE 100 stock Centrica is a dividend disaster

There’s plenty of investors still prepared to buy Centrica (LSE: CNA) even though every man and his dog expects the dividend to be hacked down again in 2019. Quite the mystery, in my book.

These are the facts. City analysts forecast profits will fall by double-digit percentages again this year and the FTSE 100 energy giant will reduce the annual dividend to 10.5p per share, a move that would represent the sixth year in a row in which it’s failed to raise the payout, and the third cut in that period.

Speculation abounds that Centrica won’t be able to meet even this vastly-reduced estimate, though (it paid another 12p per share dividend in 2018), and therefore its 10% forward yield should be ignored. And there’s plenty of reason to listen to the naysayers, beginning with…

Poor dividend cover

For 2019, the predicted dividend actually outpaces anticipated profits of 9.8p per share. The rule of thumb is that share pickers should seek out stocks where estimated payouts are covered at least 2 times over by expected profits, levels which Centrica can clearly only dream of.


https://www.fool.co.uk/investing/2019/0 ... -disaster/

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Re: Centrica (CNA)

#221183

Postby idpickering » May 13th, 2019, 7:11 am

Trading Update;

Full year guidance on operating cash flow and net debt maintained

Centrica's operational performance has been largely in line with the Company's expectations in the first four months of 2019. However, the trading environment has been challenging due to a specific set of external factors, with the expected negative impact from the UK default tariff cap (including the one-off £70m impact in the first quarter), warmer than normal weather and falling UK natural gas prices. We also experienced extensions to outages at the non-operated Dungeness B and Hunterston B nuclear power stations.


https://www.investegate.co.uk/centrica- ... 00077454Y/

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Re: Centrica (CNA)

#221193

Postby Alaric » May 13th, 2019, 7:52 am

idpickering wrote:Trading Update



and also
Centrica is due to release its 2019 Interim Results on 30 July 2019. By this time, the Company will have additional clarity on the commodity price environment, UK energy supply market dynamics under the default tariff cap, the planned disposal of its interest in nuclear, the performance of the nuclear fleet and the outcome of its pensions triennial review. It will also have completed an assessment of future performance under a range of scenarios. Accordingly, alongside the Interim Results the Company will present a strategic update which will include reflections on the current business portfolio, updated future expectations for the customer-facing divisions and an update to the Group's financial framework.


Could "update to the Group's financial framework" be code for dividend cut?

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Re: Centrica (CNA)

#221195

Postby idpickering » May 13th, 2019, 7:55 am

Alaric wrote:
idpickering wrote:Trading Update



and also
Centrica is due to release its 2019 Interim Results on 30 July 2019. By this time, the Company will have additional clarity on the commodity price environment, UK energy supply market dynamics under the default tariff cap, the planned disposal of its interest in nuclear, the performance of the nuclear fleet and the outcome of its pensions triennial review. It will also have completed an assessment of future performance under a range of scenarios. Accordingly, alongside the Interim Results the Company will present a strategic update which will include reflections on the current business portfolio, updated future expectations for the customer-facing divisions and an update to the Group's financial framework.


Could "update to the Group's financial framework" be code for dividend cut?


Maybe so. Brace yourself for the market opening you holders out there.

Ian.

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Re: Centrica (CNA)

#221205

Postby Alaric » May 13th, 2019, 8:23 am

idpickering wrote:Brace yourself for the market opening you holders out there.


Looks as if the announcement wasn't quite as much bad news as had been reflected in the share price, so the opening price was up.

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Re: Centrica (CNA)

#221227

Postby idpickering » May 13th, 2019, 9:50 am

Alaric wrote:
idpickering wrote:Brace yourself for the market opening you holders out there.


Looks as if the announcement wasn't quite as much bad news as had been reflected in the share price, so the opening price was up.


They're up a surprising 1.6% as I type!. But then again, what do I know? I'm still not tempted though. :D

Ian.

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Re: Centrica (CNA)

#221301

Postby idpickering » May 13th, 2019, 1:50 pm

Roland Head, of TMF, put this up;

Is the Centrica share price a FTSE 100 bargain or value trap?

One of the most costly lessons I’ve learned in investing is that companies with problems often take much longer than expected to fix them. FTSE 100 utility group Centrica (LSE: CNA) is a good example.

Its share price has fallen by 66% since boss Iain Conn took charge at the start of 2015. Conn has so far failed to reverse the group’s falling customer numbers or deliver a sustained improvement in profitability.

A dividend cut seems ever more likely to me, and the shares are now trading at an 11-year low. Is this a stock to avoid, or should brave investors start buying?


https://www.fool.co.uk/investing/2019/0 ... alue-trap/

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Re: Centrica (CNA)

#237971

Postby idpickering » July 20th, 2019, 10:38 am

Another from TMF, this penned by Royston Wild;

3 reasons why I think Centrica will slash dividends again

It can be mighty tempting to hold onto shares that have nursed huge losses rather than to cut them adrift and endure the pain. No-one likes to admit that they’ve made a crushing mistake, after all.

That said, I think those hanging onto Centrica (LSE: CNA) in the hope of a share price recovery could be considered gluttons for punishment. Its share price remains in freefall, down 35% since the turn of the year, and with no possible catalysts in sight that could help it snap higher.

On the plus side for investors, the company’s resisted the temptation to hack back dividends since it last reduced shareholder payouts back in 2015. A quick glance at City forecasts I reckon the FTSE 100 firm’s about to wield the scythe once again, though, and to reduce the 2019 full-year reward to 7.5p per share, from the 12p paid over the past several years.

I believe, though, the utilities giant may be forced to dial back payments even greater than those suggested by the number-crunchers. And here are three reasons why:


See; https://www.fool.co.uk/investing/2019/0 ... nds-again/

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Re: Centrica (CNA)

#240353

Postby idpickering » July 30th, 2019, 7:16 am

Interim results for the period ended 30 June 2019

https://www.investegate.co.uk/centrica- ... 00151134H/

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Re: Centrica (CNA)

#240363

Postby idpickering » July 30th, 2019, 7:36 am

Iain Conn, Group Chief Executive Officer, to step down from Centrica.

https://www.investegate.co.uk/centrica- ... 01041565H/

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Re: Centrica (CNA)

#240552

Postby supremetwo » July 30th, 2019, 5:16 pm

idpickering wrote:Iain Conn, Group Chief Executive Officer, to step down from Centrica.

https://www.investegate.co.uk/centrica- ... 01041565H/

Yes, he has conned Centrica with a recent 44% increase in remuneration and so little in return for the £11 million he has been paid in just 4 years.

One must ask why the majority fund-holding shareholders continued to support such failures despite small-shareholder agitation at the AGM.
Or have they all hedged so that share-price falls do not matter to them?

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Re: Centrica (CNA)

#240563

Postby monabri » July 30th, 2019, 5:38 pm

It's ridiculous that he has been "compensated" so much ...

I dropped an email to investor relations suggesting it would be better to get rid of him now.

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Re: Centrica (CNA)

#240575

Postby Alaric » July 30th, 2019, 6:19 pm

monabri wrote:It's ridiculous that he has been "compensated" so much ...


Haven't Centrica under its previous name of British Gas been there before?

The name of Cedric Brown springs to mind.

https://www.independent.co.uk/news/busi ... 45188.html


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