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Centrica profit misses consensus by 42.5% in H1

Centrica Plc said its normalized net income for the first half amounted to 5 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 9 pence per share.

EPS decreased 73.4% year over year from 20 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £294.5 million, a decrease of 71.8% from £1.04 billion in the prior-year period.

Total revenue rose 6.8% year over year to £14.29 billion from £13.38 billion, and total operating expenses climbed 18.0% year over year to £13.74 billion from £11.65 billion.

Reported net income declined 96.1% year over year to £44.3 million, or 1 pence per share, from £1.15 billion, or 22 pence per share.