Shell Energy turns £29.2m profit into a £5.9m loss

Shell Energy turns £29.2m profit into a £5.9m loss

A cut-throat market slashed into profit as oil major Shell forayed into the energy supply market last year, the company has revealed.

First Utility, which in March was renamed as Shell Energy, turned its £29.2 million operating profit in 2017 into a £5.9 million loss a year later, newly released accounts from Companies House show.

Chief executive Colin Crooks said “challenging market…

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