E.ON’s UK sales and profits fall

Energy supplier E.ON UK revealed today both its sales and profits fell over the first half of 2014. While sales turnover was £4,368 million in the first six months of […]

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By Vicky Ellis

Energy supplier E.ON UK revealed today both its sales and profits fell over the first half of 2014.

While sales turnover was £4,368 million in the first six months of 2013, this year that slid by £488 million to £3,946 million.

Profits also fell from £273 million last year to £188 million in the same period of 2014.

In the first half of 2014 E.ON increased its investment in infrastructure such as smart meters to £33 million.

E.ON UK’s boss Tony Cocker blamed “milder weather” for profits falling, as customers used less energy.

The Chief Executive said: “Although parts of the UK faced widespread storms, the first six months were actually considerably warmer in comparison to the same period in 2013.”

He added: “This fall in demand has also had a direct impact on profits”.

There has been a notable trend among customers to leave Big Six energy suppliers for smaller suppliers over the last six months.