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Bord Gáis Energy added €32.7m to Centrica's profits in first half of 2015

Prices and customer numbers fell at Bord Gáis Energy, but consumption was up
Prices and customer numbers fell at Bord Gáis Energy, but consumption was up

Bord Gáis Energy contributed £23m (€32.7m) to the bottom line of its new parent company Centrica in the first six months of the year.

The utility had revenues of £400m (€569.5m) during the period, with Centrica saying it had performed well since being acquired a year ago for €1.12bn.

The number of residential customer accounts was down 1% to 600,000 while the company also cut prices in March; but this was offset by higher consumption due to colder-than-usual weather in the country.

Centrica’s main subsidiary British Gas was also boosted by colder weather, reporting a profit of £528m for the first half of the year, more than it made in the whole of 2014.

Profits at the group as a whole were down, however, falling 3% to £1 billion.

The company has also announced plans to cut 6,000 posts would be cut across the group, around 10% of its workforce, although 2,000 new jobs will be created so the net loss will be 4,000.

The cuts follow a strategic review which is aimed at delivering savings of £750 million over five years.