CPYYY - Why Centrica No Longer Meets My Investment Criteria
In 2012, one of the first companies I invested in as a defensive value investor was Centrica (CPYYF) (CPYYY), the company behind British Gas.
It seemed like a good idea at the time. Centrica was a leading player in the defensive utilities sector, with a track record of growth and the best brand name a UK-based electricity and gas supplier could hope to have.
But the investment did not work out well.
Over a period of almost seven years, Centrica's shares have lost more than half their value and, even with a tailwind from regular