British Gas profits soared by 44% in 2021

Centrica’s company reported adjusting operating profit that reached £118 million last year

British Gas has reported a big increase in profits amid the energy crisis.

The parent company Centrica has today published its financial results showing British Gas recorded a 44% rise in adjusted operating profit which reached £118 million in 2021.

The energy supplier said in the second half of the year, it added around 504,000 customers that came in through the Supplier of Last Resort process as a number of firms ceased trading.

British Gas Energy residential customer numbers increased by 344,000, or 5%, over 2021, the report suggests.

Chris O’Shea, Group Chief Executive, said: “Our strong balance sheet and responsible business model has allowed us to ensure continued supply for customers whose suppliers have ceased trading and offer additional help to those most vulnerable through the ongoing energy crisis.

“2021 financial performance was resilient, and we continue to make good progress towards the turnaround of Centrica, having materially completed our portfolio simplification.

“Our focus for 2022 is on building on the progress we have already made to drive improvements in colleague engagement and in particular customer service, while continuing to build our capabilities to help our customers on their path to net zero.”

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