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| British Gas sees profits rise 31% | British Gas sees profits rise 31% |
| (35 minutes later) | |
| Profits at British Gas have risen by 31% to £574m for the 12 months to 31 December. | Profits at British Gas have risen by 31% to £574m for the 12 months to 31 December. |
| The rise in operating profits compared with £439m a year earlier, which the company said was partly due to customers using more energy. | The rise in operating profits compared with £439m a year earlier, which the company said was partly due to customers using more energy. |
| However, profits at its parent company, Centrica, fell by 12% to £1.46bn as wholesale gas prices fell sharply. | However, profits at its parent company, Centrica, fell by 12% to £1.46bn as wholesale gas prices fell sharply. |
| Last week British Gas said it was cutting prices by 5.1%, the last of the big six energy suppliers to do so. | |
| E.On, EDF, SSE, Scottish Power and Npower have all cut prices by similar amounts. | |
| Energy suppliers have been under pressure to pass on savings to customers after a 57% drop in wholesale gas prices since this time last year. | |
| Iain Conn, chief executive, said Centrica had delivered a "resilient" financial performance despite the challenge of falling wholesale oil and gas prices. | |
| Last week British Gas announced 500 job cuts, mostly in its energy efficiency business. | Last week British Gas announced 500 job cuts, mostly in its energy efficiency business. |
| Centrica shares have fallen by a third in the past 12 months and closed on Wednesday at 194.1p. | Centrica shares have fallen by a third in the past 12 months and closed on Wednesday at 194.1p. |
| The company has proposed a final dividend of 8.43p, resulting in a full-year dividend of 12p a share. |