Centrica says it will save £100m this year from restructuring
William Ryder, Equity Analyst at Hargreaves Lansdown, comments on Centrica s comments on its restructuring plans:
A lot has changed at Centrica recently. The sale of US-based Direct Energy has sorted out the balance sheet, and management now has considerable flexibility going forward. We’d like to see a conservative approach to debt going forward, at least until all the underlying business segments are robustly profitable.
Which brings us to the restructuring plans. Centrica and its subsidiary, British Gas, have copped some heat recently for controversial “fire and rehire” tactics, although management seems to have successfully imposed the new contract. The group thinks the restructuring plan will save more than £100m this year, and as a regulated monopoly Centrica might be able to afford the reputational hit.
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Readers Letters: Enough woolliness over cost of Independence
One thing most will agree on is that Scottish Independence should be decided by the Scottish people. I voted for Independence in 2014, the majority voted for the continuation of the Union, that is democracy. Similarly, on Brexit I voted to Remain but the majority across the Union voted to leave, again, democracy. However, politicians believe in democracy and the outcome of a vote when it suits their own cause, if not, let’s have another vote.
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