Britain's biggest domestic energy provider Centrica says its net profits plunged almost a quarter last year, hit by one-off charges and a weaker performance at domestic unit British Gas.
Earnings after tax sank 24 per cent to STG950 million ($A1.77 billion) in 2013, compared with STG1.25 billion a year earlier, Centrica said in a results statement.
The company's performance was skewed by a series of hefty impairments and provisions totalling STG1.06 billion or STG667 million after tax.
Operating profit - a figure closely watched by analysts - slid two per cent to STG2.7 billion, while revenue rose 11 per cent to STG26.57 billion.
And Centrica's British Gas division posted a six-per cent drop in operating profit to STG1.03 billion, hit by rising wholesale prices and a milder winter that dissuaded many households to crank up their heating.
"Market conditions are set to remain challenging in 2014 with margin pressures and unusual weather patterns on both sides of the Atlantic, rising unit costs in the North Sea and weak economics for gas storage and gas-fired power generation," chief executive Sam Laidlaw said.
