WINDSOR (dpa-AFX) - Centrica plc (CNA.L), an energy and services company, Thursday reported preliminary profit before tax of 1.679 billion pounds for the full year, significantly lower than 6.473 billion pounds in the previous year, primarily impacted by lower revenue.
Further, the company announced additional 500 million pounds share buyback, taking the total programme to 2 billion, to be completed by the end of this year.
Excluding one-time items, adjusted profit before tax declined to 1.596 billion pounds from 2.713 billion pounds last year.
Net profit was 1.332 billion pounds or 25.1p per share, down from 3.929 billion pounds or 69.4p per share a year ago.
Adjusted profit decreased to 984 million pounds or 18.5p per share from 1.859 billion pounds or 32.8p per share last year.
Adjusted EBITDA, or adjusted earnings before interest, taxes, depreciation, and amortization dropped to 2.305 billion pounds from 3.5 billion pounds in the prior year.
Revenue for the year fell to 19.113 billion pounds from 25.645 billion pounds in the previous year.
Adjusted revenue was 23.836 billion pounds, down from 32,561 billion pounds last year.
Centrica has proposed a final dividend of 3p per share to be paid on June 5 to shareholders of record on May 2.
Looking ahead, the company has confirmed its full-year outlook. It continues to expect infrastructure adjusted EBITDA to be in the range of 0.65 billion pounds - 0.85 billion pounds in fiscal 2025. It also plans to increase 2025 dividend per share to 5.5p.
'Outlook demonstrates a pathway towards £1.6bn run-rate of EBITDA by the end of 2028, with 85% from activities underway today,' Centrica said in a statement.
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