Centrica plans to shed about 1,300 jobs, the British Gas owner said on Thursday after reporting that market volatility, asset disposals and adverse weather had weighed on profit, knocking ​its shares as much as 10% lower.

The job cuts, some of which have already ​been completed, include a proposed reduction of about 500 staff in customer operations ⁠and fewer outsourced offshore positions.

Centrica, which has been selling non-core assets and concentrating on LNG-related infrastructure ​to boost margins, also warned of growth stagnating at its energy trading arm.

It is facing other ​challenges including hot weather in Britain and Iran war-linked disruptions to energy markets.

Centrica has been increasing investment in AI and technology upgrades as it seeks to simplify its operations, and had previously alluded to headcount reductions.

“AI isn’t ​driving these particular job reductions; that’s mainly due to changing customer behaviour,” Centrica CEO Chris O’Shea ​told reporters after Thursday’s results.

SOFTER ENERGY TRADING OUTLOOK

Centrica’s first-half adjusted core profit dropped 18% to £737 million, mainly due to ‌the ⁠impact of Spirit Energy asset disposals and production outages.

“Volatility across energy markets has created challenges in some parts of our business, and some of our delivery has been slower than we would like,” O’Shea said.

Centrica warned that core profit for next year at its optimisation division, the major contributor ​to its trading arm ​Centrica Energy, would be ⁠in line with expectations for 2026, which currently stand at around £250 million.

That would be much lower than the £300 million to £400 million medium-term target for ​Centrica Energy, as it aims for £2 billion overall by 2030.

Centrica said it ​has sought government ⁠intervention to keep Britain’s largest gas storage facility in Rough open and to help the country’s efforts on energy security endeavours.

“We’ve spent the last few years eking out this asset to preserve the option, ⁠but ​we’re really coming to the end of the road now,” ​O’Shea said, adding that Centrica does not intend to renew its operating licence which expires in April.

Shangla  –  The third spell of the monsoon has intensified across Shangla and other upper parts of Khyber Pakhtunkhwa, with intermittent torrential rainfall continuing for the fourth consecutive day. The downpours have triggered landslides, swollen rivers and streams, and prompted authorities to open the spillway of the Khan Khwar Dam in Ranial as a precautionary measure. The Pakistan Meteorological Department (PMD) has forecast more rainfall in the coming days and warned of possible flash floods and further landslides.

Persistent rain has significantly disrupted normal life in several parts of Shangla. Landslides were reported in various mountainous areas, while water levels in rivers, seasonal streams, natural springs, waterfalls and other water bodies rose considerably due to continuous rainfall.

The Alpurai College Road, which was blocked by a landslide a day earlier, remained closed to all types of traffic, causing severe inconvenience for patients travelling to hospitals, students, teachers and local residents. Authorities had yet to restore the road at the time of filing this report.

Rain-induced debris, large boulders and uprooted trees also fell onto several major roads, including the Alpurai–Bisham Highway, Alpurai–Khwaza Khela Road, roads in Poran, Chakesar and Shah Pur Kana, as well as other key routes across the district. Although most roads remained partially open, vehicular traffic continued under difficult conditions, with motorists advised to exercise extreme caution.

The prolonged rainfall also caused seasonal streams to overflow, while rivers and other natural waterways witnessed a significant increase in water flow. Several irrigation channels in rural areas were damaged, traditional water-powered flour mills were affected, and reports indicated losses to agricultural land, protective embankments and rural link roads. Fast-flowing floodwater also damaged small bridges and crossings in some villages, creating difficulties for residents.

Meanwhile, the spillway of the Khan Khwar Hydropower Dam in Ranial was opened after continuous rainfall caused a substantial increase in inflows into the reservoir. The measure was taken to maintain the water level within safe operational limits and minimise the risk of downstream flooding.

Local residents urged the district administration, the Communication and Works (C&W) Department and other relevant agencies to immediately clear debris from affected roads, restore blocked routes and conduct an emergency survey of damaged irrigation channels, traditional water mills and other public infrastructure to ensure timely rehabilitation and minimise further hardship.

Meanwhile, in view of the continuing monsoon rains, Additional Deputy Commissioner (Relief) Fida Hussain and District Emergency Officer Engineer Malik Sher Dil Khan conducted a late-night inspection of several sensitive and high-risk locations across the district.

During the visit, the officials reviewed the water levels and flow in the Alpurai Khwar and Lilwonai Khwar, where a slight increase in water discharge was recorded following the recent rainfall. Authorities continued to monitor the situation closely to respond promptly in the event of any emergency.

The district administration directed all relevant departments to remain on alert to deal with any weather-related emergencies and appealed to the public to avoid unnecessary travel during the ongoing spell of rain.