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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Centrica plc    CNA   GB00B033F229

CENTRICA PLC

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Centrica : British Gas faces strike over 'fire and hire' threats

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08/19/2020 | 04:43pm EDT

Members of the GMB union have voted for industrial action against Centrica Plc British Gas after the utility issued "fire and rehire" threats to its workforce, the union said on Wednesday.

In a consultative ballot of 10,000 GMB union members at British Gas, Britain's largest energy supplier, 95% voted in favour of industrial action, which could lead to a formal strike ballot in autumn, it said in a statement.

Centrica in June announced plans to cut around 5,000 jobs, as it ramps up restructuring efforts due to the COVID-19 pandemic.

"The company had burnt through the confidence of its loyal workforce by threatening to set fire to jobs, terms and conditions," the GMP said.

Centrica described their 'fire and rehire' plans as an 'insurance policy' and issued statutory HR1 and s188 notices which say this process could begin at the end of November, the union added.

(Reporting by K. Sathya Narayanan in Bengaluru; Editing by Gareth Jones)


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Financials
Sales 2020 25 505 M 33 040 M 33 040 M
Net income 2020 -543 M -703 M -703 M
Net Debt 2020 2 502 M 3 241 M 3 241 M
P/E ratio 2020 -15,9x
Yield 2020 2,78%
Capitalization 2 177 M 2 809 M 2 820 M
EV / Sales 2020 0,18x
EV / Sales 2021 0,25x
Nbr of Employees 25 835
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 53,75 GBX
Last Close Price 37,30 GBX
Spread / Highest target 114%
Spread / Average Target 44,1%
Spread / Lowest Target -11,5%
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Christopher O’Shea Group Chief Executive Officer & Executive Director
Jonathan Scott Wheway Chairman
Johnathan Richard Ford Chief Financial Officer & Director
Charles Cameron Director-Technology & Engineering
Mike Young Group Chief Information Officer
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