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British Gas profits up 11%

British Gas has announced its profits are up 11% from last year to £606m. Its owner Centrica, which also owns Scottish Gas, has announced its annual operating profits are up 14%.

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British Gas profits 'expected to rise' for second year running

British Gas parent Centrica will stoke public anger over energy firm profits tomorrow when it reveals another jump in annual profits just months after hiking customer bills.

The City is predicting the group's British Gas residential arm will deliver profits of £598 million, up from £544 million in 2011 after last year's colder-than-normal weather provided a boost.

Centrica, who own British Gas, are expecting to announce a multimillion pound profit boost on Wednesday. Credit: Lewis Whyld/PA Wire/Press Association Images

Its results come amid mounting questions over the fairness of energy prices after British Gas increased tariffs by 6% for around 8.5 million households at the end of last year.

Centrica has already sought to head off consumer backlash by flagging up its importance to the UK economy after publishing a report at the weekend claiming it contributes more than £14 billion through taxes, job creation and contracts with small suppliers.

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