Associate
- Joined
- 29 Jun 2016
- Posts
- 536
Fair point. Centrica profits would provide what, £80 of each houses bills per year? Thing is, this is one of many oil/gas suppliers.Just to play devils advocate, but are centrica really making extraordinary profits?
When I ran the numbers for 2021 yesterday, their profit margin was about 5.5%. £18bn turnover with just under £1bn profit, not exactly taking it in.
For context, Apple has a net profit margin of about 25%.
So I guess the greater question is should any profit be reasonable in proper crisis? Keeping in mind we're forcing energy suppliers to go bust, families to go hungry, but the wholesale suppliers get to do what they want?
Not fair IMHO and mostly I was pointing out that the anger is mis-directed. I was clear that there is a global energy crisis and it is always going to hurt.