An investor note from Deutsche Bank Monday morning said operating profits and earnings are likely to be down around 30% compared to last year’s H1 results.
The analysts point to mild weather in the UK, which means less gas was sold, and a negative impact from the US Polar Vortex as key reasons for the decline.
But the focus for investors is expected to be on news regarding the future leadership plans of the company.
Late last week Centrica confirmed speculation that BP’s outgoing board director Iain Conn may replace Sam Laidlaw as chief executive of the company, which Deutsche Bank analyst Martin Brough said could mark a strategic departure for the company.
“The current CEO Sam Laidlaw’s arrival did indeed start a strategic change with the rebuilding of the upstream gas and North American businesses. Iain Conn’s appointment might be less clear cut – his background includes upstream oil and gas, though he has more recently been heading BP’s downstream, customer facing businesses,” Brough said.
Brough added that a customer focus could prove key to improving political and competitive prospects.
The British Gas parent company has seen a flurry of high profile departures over recent weeks – including finance director Nick Luff and downstream managing director Chris Weston – while the timing of Laidlaw’s departure is expected to be made public only once a replacement has been named.