British Gas Profits go From £95 million to £571 million

Discussion in 'Current Affairs, News and Analysis' started by Sven, Feb 21, 2008.

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  1. British Gas made an obscene jump in profits last year on the back of charge increases. The profits of their parent company jumped 40%.

    Link
     
  2. It's good to see a British Company doing so well for themselves. No doubt they also pay a considerable amount in business tax.

    Congratulations to British Gas.

    Maybe they should use the money to buy Northern Rock!
     
  3. I'll be sure to raise a glass to them, myself, then. Of course, I won't be able to afford both a glass and something to drink out it, seeing how energy bills are sending my cost of living sky-rocketing while my wages plod along in keeping with the official (i.e. bogus) rate of inflation.

    Yet another example of why private businesses should not be allowed to run national utilities.
     
  4. So £476m in BG's profits is from domestic consumers bills?? No one would be short sighted enough to believe that would they?
     
  5. I don't give a shit where the massive increase in profit comes from. I still think it obscene that they can be raking it in to this phenomenal extent at the same time as they're squeezing my ability to benefit from my own bloody earnings 'til the pips squeak.

    So Joe Public exists to guarantee an increased dividend to shareholders? No-one could be politically dogmatic enough to believe that would they?
     
  6. You all (especially the older persons amongst us) had a chance to by shares years ago,Remember Tell Sid adverts. I think at the time they were £1.50, NOW £11.50, WHO'S SORRY NOW.!!!!!!!!!

    CTC
     
  7. British Gas average bill 2004 ~ £379 in 2008 ~ £568
    £189 increase in 4 years, Energy prices are relative like everything else.

    If they had made a massive loss and had to be bailed out by tax payers there would be complaints too wouldn't there?

    The price of gas is not going to go down, Fact.
     
  8. Might I ask where You got Your figures from, especially in the view of this quote.

    I am especially interested in quote of average 2008 prices - given that the bills for the year are not due out for another 9 and a half months.
     
  9. That's just the problem, the price of gas goes up and down all the time. In the first 6mths of last year it actually dropped by 50%, but then went up again towards the back end of the year. Problem seems to be that BG and all the other power companies are very keen to pass on any increase instantly, but not quite as keen to pass on the reductions as quickly.
     
  10. From your favourite Newspaper Sven..............

    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/21/bcngas221.xml
     
  11. Now that speaks volumes about the standard of journalism in the Torygraph.
     
  12. Sven,
    What would speak volumes is if the despicable labour government you lovingly support used the huge amount of business tax that it makes from BG to subsidise pensioners fuel bills.

    :D
     
  13. I'm neither supporting or attacking BG when I say that quoting the £500 million plus figure doesn't actually tell you anything .Unless you know what amount of investment that is based on. Most of the shares in BG are held by pension funds and private indivuals so the figure that should be broadcast is the return on investment. A 40% rise in profit isn't much if previous profits were low ((a 40% rise on a 2% profit is still only 2.8% return on capital ). When are the media going to treat the public with a little respect and tell us the facts?
     
  14. I'm neither supporting or attacking BG when I say that quoting the £500 million plus figure doesn't actually tell you anything .Unless you know what amount of investment that is based on. Most of the shares in BG are held by pension funds and private indivuals so the figure that should be broadcast is the return on investment. A 40% rise in profit isn't much if previous profits were low ((a 40% rise on a 2% profit is still only 2.8% return on capital ). When are the media going to treat the public with a little respect and tell us the facts?
     
  15. Nice to hear that a British company is making a profit, but maybe some reduced bills would now be appropriate, especially for the pensioners.