Centrica profits allow group to 'make contribution to society'

Sam Laidlaw, Centrica chief executive, pointed towards the group's tax contribution and investment in future energy sources:

We have taken the lead during 2012 in helping more households save energy and supporting the people who need the most help.

It’s important that Centrica makes a fair and reasonable return so that we can continue to make our contribution to society and to invest.

Last year we incurred a tax charge of over £1 billion and invested over £2 billion to secure new sources of energy for the UK, well in excess of our profits.

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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%.