Profits fall at British Gas

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Energy supplier British Gas has reported a fall in annual profits.

The company said operating profits in residential energy supply fell by 11% last year to £553m, compared to £623m in 2015.

British Gas said this was partly due to a 3% fall in customer accounts, largely in the first half of the year.

The owner of British Gas, Centrica, reported a 4% rise in operating profit for 2016 to £1.52bn.

British Gas recently announced it was freezing its tariffs until August, against a backdrop of rising prices at some other large energy companies.

It has also announced a loyalty scheme to reward existing customers.

BBC

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