Bord Gáis owner Centrica seeks back-office cost cuts

Power firm Centrica said operating profit at its Bord Gáis unit more than doubled in the first half of the year as its power plant in Whitegate in Co Cork came back on stream.

But shares in Centrica, which also said it plans to cut back-office costs in Ireland following similar initiatives in its home market, plunged to a 21-year low after group-wide profits slid by almost 50%.