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

CENTRICA PLC

(CNA)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 11/30 05:23:17 am
45.135 GBX   -1.34%
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Centrica : UK's Centrica signs deal with unions over worker terms and conditions

10/08/2020 | 04:30pm EST
A British Gas sign is seen outside its offices in Staines in southern England

LONDON (Reuters) - British Gas owner Centrica said on Thursday it has agreed with trade unions not to force through changes to terms and conditions via legal a process this year, in return for unions agreeing not to ballot for industrial action this month.

"Our negotiations have been progressing and we remain focused on getting a negotiated settlement through continued discussions," a Centrica spokesperson said.

"As a demonstration of our good faith in these talks, we have committed that we will not use the legal process to change terms and conditions this year."

"In return, to demonstrate their continued commitment to the negotiations, our trade unions have agreed not to ballot for industrial action in October - as we seek to find a negotiated agreement," the spokesperson added.

In June, Centrica said it planned to cut around 5,000 jobs, almost 20% of its global workforce, as the utility deepens its restructuring efforts in the wake of the COVID-19 pandemic.

Centrica currently employs around 27,000 people, with around 20,000 based in Britain.

It has said it has faced difficult conditions, including losing market share to smaller competitors, low oil and gas prices and a regulatory price cap which has squeezed profitability.

"This temporary retreat comes after sustained pressure, condemnation and public and political outcry over the proposal to sack the entire British Gas workforce," said Justin Bowden, national secretary of trade union GMB.

(Reporting by Nina Chestney; Editing by Jan Harvey)


© Reuters 2020
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Financials
Sales 2020 25 419 M 33 851 M 33 851 M
Net income 2020 -206 M -274 M -274 M
Net Debt 2020 2 551 M 3 398 M 3 398 M
P/E ratio 2020 -25,2x
Yield 2020 0,95%
Capitalization 2 670 M 3 559 M 3 556 M
EV / Sales 2020 0,21x
EV / Sales 2021 0,29x
Nbr of Employees 25 835
Free-Float 99,9%
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Technical analysis trends CENTRICA PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 53,88 GBX
Last Close Price 45,75 GBX
Spread / Highest target 42,1%
Spread / Average Target 17,8%
Spread / Lowest Target -14,8%
EPS Revisions
Managers
NameTitle
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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