Centrica PLC (LSE:CNA) announced a £300 million extension to its share buyback programme ahead of an investor event on Tuesday.
Additional repurchases would mean the British Gas owner had bought back £1.5 billion worth of shares, or 20% of its issued capital, since November 2022, a statement said.
Centrica also noted full-year earnings were set to meet analysts’ expectations for 18.5p a share, leaving average net cash in line with forecasts for £2.56 billion.
Adjusted operating profit from its retail and optimisation wing, as well as infrastructure division, were said to be on course to meet consensus estimates too.
Centrica offered to update ahead of a “teach-in” event on Tuesday around its energy and meter asset provider businesses.
“The company has delivered good strategic progress in 2024, including announcing the extension of the lives of its four operational [...] nuclear power stations [...] and solid operating performance across the portfolio,” Centrica said.
Guidance for 2025 was also laid out, with infrastructure profit seen between £250 million and £400 million, in line trading expected in retail and optimisation and an improved British Gas services performance forecast.