This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Direct Energy Delivers Solid First Half Operational Performance

HOUSTON, July 31, 2013 /PRNewswire/ -- Direct Energy, North America's largest competitive energy and energy-related services company, today announced operating profit of $255 million for the first six months of 2013. The company saw year-on-year total revenue increase to $4.931 billion from $4.371 billion for the same period in 2012, reflecting volume growth and higher wholesale prices. Direct Energy is the North American subsidiary of Centrica plc (LSE: CNA), a leading integrated energy company. Centrica reported first half 2013 revenues of £13.7 billion ( US$21.085 billion) and earnings of £767 million ( US$1.185 billion).


Badar Khan, President and CEO of Direct Energy, said: "Direct Energy delivered strong operational performance in the first half of the year, against a backdrop of rising gas and power prices, which resulted in some narrowing of margins. We have seen an increase in business supply volumes compared to 2012 and material improvements in the new housing market in the U.S., which have contributed to higher revenues in our residential construction division of Direct Energy Services."

"With our announced acquisitions of Hess Energy Marketing yesterday, Bounce Energy on July 12, and the benefit of previous acquisitions combined with our continued focus on improved customer service, we are well positioned to deliver on our full year targets," Khan added.

The efforts of Direct Energy's employees in the first half of the year are being felt throughout the company as it continues to deliver high levels of customer service while also ensuring and maintaining the highest safety standards.

The company is also moving forward on innovation initiatives such as smart and time-of-use products putting customers in control and making their lives easier. Direct Energy also unveiled its newly redesigned website, which significantly enhances the customer's online experience.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.26 -0.77%
FB $101.50 2.00%
GOOG $684.03 0.87%
TSLA $163.06 10.00%
YHOO $27.10 1.00%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs