One Point Three Billion Pounds Profit

[Stargazer]

was made by British Gas (Centrica) last year. How is that written in numbers? Why can't that be handed to domestic gas users?

[Canary42]

////.. would you be happy if the reverse happened and they fell on bad times and your taxes went up to help them? //

It already happens - remember the banks bail-out.

[FatticusInch]

youngmafbog
//But would you be happy if the reverse happened and they fell on bad times and your taxes went up to help them?//

Lol, when is the last time a company like British Gas or Shell making billions ‘fell on hard times’?

[DTCwordfan]

How short memories can be:

https://www.theguardian.com/business/2021/feb/04/shell-makes-20bn-loss-as-covid-crisis-downgrades-assetshort

the same was true for BP and the industry at large.

[naomi24]

//It already happens - remember the banks bail-out.//

That's a bit different, canary. Had the banks gone under, all the personal - and business - bank accounts would have gone with them.

[FatticusInch]

Your link is dead DTC.

Try this.

https://amp.theguardian.com/business/2021/feb/04/shell-makes-20bn-loss-as-covid-crisis-downgrades-assets

/The oil company was forced to write down its assets after a slump in oil and gas market prices, leading the company to a loss of $19.9bn compared with a profit of $15.3bn the year before./

So in reality, a minor blip in a one-off global pandemic.
Hope that helps you put things into perspective.

[DTCwordfan]

Yes, it's just the scale of these companies with al their global operations - when you start putting traditional measurement sticks up against their numbers like ROI, ROCE and Return on Cash, the numbers aren't that spectacular.....but its more the 'solidity' of these companies in ensuring their dividend streams that drive the pension funds to holding what is effectively lower risk equities in them.

[FatticusInch]

Well I reckon that anyone with shares in the company won’t have to rely on their winter fuel payment just yet.

[DTCwordfan]

see if the BBC site works, another article with a useful graph - https://www.bbc.co.uk/news/business-55931523ite

and this one -as to return percentages - BP's would be fairly similar.
https://www.macrotrends.net/stocks/charts/SHEL/shell/roi

I'll see if I can find Centrica's

[FatticusInch]

Anything with the word ‘British’ attached to it would always be bailed out by the taxpayer in a crisis anyway, British Airways have been doing it for long enough.
Oil and larger utility companies never go out of business.

[DTCwordfan]

https://www.centrica.com/media/5723/centrica-2022-interim-results-announcement-2022.pdf

Well they certainly have enriched the Treasury - £580 mln....a rate of effectively 46 percent.

[youngmafbog]

//Well I reckon that anyone with shares in the company won’t have to rely on their winter fuel payment just yet.//

That'll be just about anyone with a unit linked pension.

Think before you write.

[youngmafbog]

The problem is with these big International companies is that the amount made on turnover actually isnt that great. It's just that the turnover is large so the numbers seem big. If you tried to give back the difference to all its customers it would end up as pence, the Treasury would loose out and taxes would have to rise.

In addition some just dont seem to understand international pricing, especially when its done in $.

[FatticusInch]

youngmafbog
//Well I reckon that anyone with shares in the company won’t have to rely on their winter fuel payment just yet.//

/That'll be just about anyone with a unit linked pension.

Think before you write./

Lol, so you’re telling me that Shell shareholders are going to be struggling come the winter after recent profits?
Have a think yourself! PMSL.