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Centrica shares dip as Goldfish flounders

31 July 2003  |  3477 views  |  0 Centrica shares dip as Goldfish flounders

Shares in UK energy outfit Centrica have taken a knock as the company reported a £30 million first half operating loss at its credit card subsidiary Goldfish.

While the group reported better-than-expected first-half earnings, analysts pegged the stock back on continued uncertainty over the future of the Goldfish venture.

Speculation had been building that joint venture partner Lloyds TSB might be about to buy out Centrica's majority 70% stake in Goldfish. The UK bank earlier this week announced plans to offer offer gas, electricity and telephone services to its current account customers through its network of high street branches.

Centrica shares fell 2.7% in early morning trade as the firm refused to budge from its earlier commitment to re-examine its options should the business fail to reach cash break-even by the end of the year.

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