Direct Energy Profit Up 38% in 2011 ; $600 Million Investment in Acquisitions, Solid Organic Growth and Operational Improvements Drive Strong Results
U.S. Newswire › February 23, 2012
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Summary
HOUSTON, Feb. 23, 2012 /PRNewswire/ -- Direct Energy, one of North America's largest competitive energy and energy-related services providers*, today announced a 38 percent increase in operating profit for the full year 2011 from US$362 million (Pound sterling 234 million) to US$500 million (Pound sterling 312 million).
Direct Energy is the North American subsidiary of Centrica plc (LSE: CNA). Centrica reported full year 2011 revenues of Pound sterling 22.8 billion (US$36.8 billion) and earnings of Pound sterling 1.3 billion (US$2.1 billion).See the full content of this document
Extract
Direct Energy Profit Up 38% in 2011 ; $600 Million Investment in Acquisitions, Solid Organic Growth and Operational Improvements Drive Strong Results
The increase in profit at Direct Energy was driven by operational improvements and cost efficiencies, both upstream and downstream, and the impact of recently completed acquisitions. The company also experienced strong organic growth in customer numbers, ...
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