Centrica falls on COVID outlook

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Centrica falls on COVID outlook
Master Investor Magazine

Master Investor Magazine 60

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Shares in FTSE 100 energy services firm Centrica (LON:CNA) fell by 5.42% to 35.10p (as of 10:15 BST) after the firm provided a trading update. Management said that the company had a strong liquidity position to accommodate a rise in deferred customer payments, but were unable to offer clear guidance on the financial impact of COVID.

Interim CEO Chris O’Shea commented: “As the scale and length of the crisis unfolds, it is becoming increasingly clear what a vital role so many of the Centrica team perform to keep our communities warm, safe and supplied with energy. I am extremely proud and humbled by the response of colleagues, and on behalf of the Board I would like to say how grateful we are to them. While there are so many uncertainties surrounding the impacts of this situation, I am confident that we have acted promptly and prudently to underpin the long term strength of Centrica“.

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